Disastrous Christmas for Tesco and M&S as UK retailers release festive trading figures

The announcement of festive sales figures wiped £1 billion off the collective share prices of Tesco and M&S, although hit products such as Heston Blumenthal’s gin make the picture less bleak for Waitrose.

Super Thursday, the day when major retailers release their Christmas trading figures, proved anything but super for Tesco and M&S yesterday.

Tesco reported an overall growth of 1.9% over the key weeks before and after Christmas, suffering from a poor performance in computers, gifts and DVDs.

Food sales at Tesco enjoyed a growth of 3.4%, but this wasn’t enough to stop its share price falling by nearly 5% due to disappointment that the figures were well short of its predicted 3.2% growth. This comes as a blow to chief executive David Lewis’s dramatic revival of the grocery business.

At M&S the picture was much bleaker, with food sales down by 0.4% and clothing and homeware down 2.8%. The store suffered from uncompetitive food pricing (expensive brussel sprouts in particular) and problems with its website. Share prices plummeted by 6%.

Things were better for Waitrose, which was buoyed by hit products such as Heston Blumenthal’s citrus sherbet lazy gin and chocolate and ginger mince pies. It enjoyed an overall growth of 1.5%. Morrisons too grew by 2.8% in like-for-like sales in the six weeks leading up to 7 January.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

Retail Manager

Friarwood Fine Wines
SW London, UK

Assistant Manager

Seven Cellars
Brighton, UK

Key Account Manager

MMI Dubai
Dubai, UAE

Head of Supply Chain

Lanson International UK Ltd
London W1, UK

National Account Executive

Home Based working in Central Belt. Glasgow/Edinburgh, UK

Global Brand Manager - Ableforth’s (Bathtub Gin etc)

ATOM Supplies
Tunbridge Wells, UK

Trade Sales Manager

Wine Source Group
Central London, UK

Prowein 2018

18th Mar 2018

The City Wine Show

London,United Kingdom
13th Apr 2018

Prosecco Springs

London,United Kingdom
26th Apr 2018
Click to view more

The Global Rosé Masters 2018

Deadline : 19th March 2018

The Prosecco Masters 2018

Deadline : 19th March 2018

Click to view more

The Global Malbec Masters 2017

the drinks business is proud to announce the inaugural Global Malbec Masters 2017

The Global Sparkling Masters 2017

the drinks business is thrilled to announce the launch of The Global Sparkling Masters.

Click to view more