Tesco, Britain’s biggest retailer, and rival Marks & Spencer posted better than expected Christmas sales as people snapped up festive treats despite a deepening cost-of-living crisis.
In-store sales were particularly strong, with strikes by postal workers helping push customers back to the High Street.
Tesco recorded its biggest ever sales day on Dec. 23, the supermarket group’s Chief Executive Ken Murphy said.
Results on Wednesday from another big grocery chain, Sainsbury’s, showed a similar trend, confounding retailers’ worries that Christmas trading would be sluggish given double-digit UK inflation and low consumer confidence.
Read more at Reuters
