StockMarketWire.com - Retailer Marks and Spencer said it was 'more confident' to deliver on its recently increased guidance after reporting a rise in sales in third quarter of the year including the key Christmas period.

'[W]e are more confident of our ability to deliver the increased guidance we set, and now expect full year profit before tax and adjusting items of at least £500m,' the company said.

For the 12 weeks in 1 January, sales increased 18.5% to £3.27 billion.

'Trading over the Christmas period has been strong, demonstrating the continued improvements we've made to product and value,' the company said.

'Clothing & Home has delivered growth for the second successive quarter, supported by robust online and full price sales growth. Food has maintained its momentum, outperforming the market over both 12 and 24 months,' it added.

The company will report full year results for the 52 weeks ended 2 April 2022 on 25 May 2022.



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