UK retailers warn of tougher times ahead after Christmas spending splurge

Tesco and M&S enjoyed a 6% to 7% sales boost in recent weeks but both are wary that the cost-of-living crisis will bite soon

Retailers in the UK were boosted as consumers snapped up festive treats despite the deepening cost-of-living crisis. Stock picture

Marks & Spencer and Tesco beat Christmas sales forecasts with food and clothing sales booming but two of the largest British retailers warned shoppers will tighten their belts in 2023.

Tesco and Marks & Spencer posted better than expected Christmas sales as people snapped up festive treats despite the deepening cost-of-living crisis.