Marks and Spencer has allayed fears of a major Autumn downturn in consumer spending, with non-food sales dipping 0.8% in the six months to 1 October and trading in the past month ‘in line with expectations’.

The chain saw UK sales rise by 1.6%, thanks to higher food sales, and like for like sales rose by 0.5% but like-for like non-food sales dropped by 1.3%.

Like-for-like sales fell 0.7% in the second quarter, with a 2.5 non-food sales down 2.5%.

Pre-tax profits fell from £348.6m to £320.5m as Marc Bolland, Marks and Spencer chief executive said it had invested in delivering better value by not fully passing on higher commodity prices.

‘The second half of the year has started in line with our expectations. We will continue to manage the business for a challenging environment with particular focus on offering great value to our customers and tight control of costs and stock. We remain cautious about the outlook but are well set up for the all important Christmas period.’

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