Marks & Spencer and Tesco have both declared positive trading figures for their food businesses today, building on the strong festive period message emerging from other retailers.
M&S reported a like-for-like growth in food business sales of 0.6% for the 13 weeks to December 31, 2016, while Tesco reported a 1.3% increase in like-for-like food sales for the seven weeks to January 7, 2017.
“Our Food business continues to grow market share with customers recognising our product as special and different,” said M&S Chief Executive, Steve Rowe (pictured above).
“As we look forward, our Q4 reported numbers will be adversely affected by sale timing and a later Easter. Against the background of uncertain consumer confidence the business remains focused on delivering the strategic actions announced last year.”
Tesco Chief Executive, Dave Lewis, was similarly upbeat, commenting: “We are very encouraged by the sustained strong progress that we are making across the Group.
“In the UK, we saw our eighth consecutive quarter of volume growth and delivered a third successful Christmas. Our fresh food ranges proved particularly popular, outperforming the market with great quality, innovative new products and even more affordable prices.
“Internationally, we have continued to focus on improving our offer for customers in challenging market conditions.”