M&S rings up better-than-forecast festive sales but cautions on Red Sea impact

Business | Business News Marks & Spencer has emerged as a festive winner after better-than-expected Christmas sales, but cautioned over stock delays and cost increases from the Red Sea shipping attacks. The high street stalwart became the latest retailer to warn on ongoing issues impacting the important Suez Canal shipping route, with expectations that it will delay new clothing and home stock due in February and March. It does not expect much impact on the food arm, but said the disruption – which is forcing ships to bypass the Red Sea and take longer routes – could push up costs in its clothing and home business. Our plan is not…