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M&Co sales sparkle over festive period

Value retailer M&Co said like-for-like sales over the eight weeks to December 24, 2010 rose 2.7% despite being “significantly” impacted by snow in the run-up to Christmas.

The business, one of the country’s biggest privately owned fashion retailers, said its online arm increased sales 176% during the period.

M&Co said in a statement: “With significant price increases combined with increased unemployment and minimal salary increases outside of London, 2011 will be very interesting.”

In a radio interview this week, majority shareholder Iain McGeogh said a “tidal wave of inflation” was set to break over the clothing sector, with increasing cotton prices and freight costs piling on the pressure.

The 300-store retailer said international franchise was included in its plans for 2011-12 but declined to comment on target markets.

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