Tesco and M&S report strong Christmas sales

Retail giants Tesco and Marks & Spencer have both reported stronger-than-expected sales for the key Christmas trading season. Tesco said UK like-for-like sales - which strip out the impact of new stores - rose up 6.8% over the six weeks to 6 January. The supermarket giant also raised its profit forecast for the full year. M&S also reported robust demand for the festive period, especially in its food business. Sales rose 8.1% over the 13 weeks to 30 December.

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