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M&S on track post-Christmas

The high-street chain did not fare as badly as expected over the festive season
M&S on track post-Christmas

Marks and Spencer's (MKS) shares found modest support on the release of third-quarter numbers from the high-street chain. Total UK sales fell 2.2 per cent, reflecting a 2.1 per cent contraction in food sales and a 2.4 per cent slump in clothing and home sales. But analysts at Shore Capital praised the performance against what remains a difficult retail market – particularly as the group tries to simultaneously implement its wider transformation plan.

IC TIP: Hold at 275p

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