Another wave of festive trading updates is due tomorrow morning — M&S and Tesco will likely be in focus after Sainsbury’s share price slump today suggested much of the positive news around solid grocery sales was already priced in.
For its part, M&S has truly had a great run recently — its shares rose more than 120% last year, making it one of the FTSE 100’s best performing stocks. Needless to say, market expectations will be high so any unexpected negative surprises could give shares a knock.
Analysts expect M&S results to follow in the footsteps of a solid first-half, with strong sales growth across food and clothing. Non-food sales is where Sainsbury’s came a bit unstuck today so it’ll be interesting to see whether M&S fares better. It has recently invested in updating its clothing range, which so far seems to have paid off.
Photographer:…
