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M&S and Tesco hail strong trading, but hospitality suffers ‘lost Christmas’ – business live

Marks & Spencer and Tesco report strong Christmas trading, but hospitality firms suffer devastating drop in trading

UK housebuilder Countryside has announced the departure of its chief executive, and warned that trading is weaker than expected.

Shares in Countryside have tumbled 16%, after it reported that operating profits have more than halved year-on-year in the last quarter.

Trading in the first quarter of our new financial year has been below the Board’s expectations. We expect to update the market on progress with the review of developments in 8 to 10 weeks.

Trading recovered particularly strongly through December, with like-for-like store sales in the run up to Christmas returning to similar levels to those delivered in December 2019.

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