Marks and Spencer says comparable sales up 5.3 pct in recent quarter, better than expected

Marks and Spencer sales up 5.3 pct in last quarter

LONDON — British retailer Marks and Spencer says sales were up 5.3 percent in the 13 weeks ending Oct. 2 when not counting newly opened store space.

Thursday’s report was stronger than analysts had forecast. General merchandise sales were up 7 percent and food sales rose 3.7 percent.

M&S said that when including the contribution of new stores and floor space, total sales were up 6.5 percent.

The company warned of tougher times ahead, as it expects consumer spending to be squeezed by government spending cuts and higher sales taxes in the new year.