M&S shares up on sales data

<p>Positive sales data has resulted in shares in Marks & Spencer shooting up.</p>

The share price of upmarket chain Marks & Spencer (M&S) rose today (April 11th) on the back of positive financial data from the firm.

Stocks in the company rose by close to four per cent after it was revealed in a trading statement that it has enjoyed its strongest quarterly sales growth in the last two years.

Group sales were up by more than three per cent in total, while food sales grew by more than six per cent, indicating the firm's strength in this market.

Chief executive of M&S Mark Bolland stated the result for the food sector was "excellent" for the company, pointing out progress has also been made in its operational execution.

"We are increasingly seen as the destination shop for special occasions," he said, adding: "Multi-channel sales growth accelerated and our international business also performed well during the quarter."

At 15:35 BST, the share price of M&S was recorded at 398.80, which is a rise of 15 points – or 3.91 per cent – on the start of the day's trading.

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