Marks & Spencer has said it is “back on track” following “encouraging performance”.
In a trading update posted this morning, the retailer said that food sales over the past 19 weeks were 10.8% higher than for the same period last year and 9.6% above 2019. It noted that its retail park locations had traded above expectations.
Revenue from clothing was down just 2.6% on 2019 and 92% up on last year. Online now accounts for around 35% of clothing and home goods sales.
It said it was anticipating pretax profit for the year to be around £350m.
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