M&Co says ladieswear led festive sales surge

SCOTTISH fashion retailer M&Co boasted of an 11 per cent rise in like-for-like sales over the festive period yesterday, driven by its ladieswear range.

The firm, which runs nearly 300 stores across the UK, also enjoyed a doubling of online revenues in the nine weeks to 2 January.

The sales leap will provide some cheer to M&Co, which revealed last summer that operating profits had fallen from 9.8 million to 8.6m in the year ending February 2009.

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Pegging its success to the 4.3 per cent rise in UK festive sales recently revealed by the British Retail Consortium, M&Co said it was trading well ahead of the sector.

Iain McGeoch, chairman of parent business Mackays Stores, said: "This has been an exceptional Christmas for M&Co, with growing sales and profitability in the face of difficult market conditions.

"The new, younger and more trend-led feel to our ladieswear range is proving to be a huge hit with our current customers as well as enticing new M&Co shoppers through our doors."