Marks & Spencer has posted better than expected results for the fourth quarter of the year, with like-for-like sales down by just 4.2% in the UK.

Food sales declined 3.7% during the 13 weeks to 28 March, compared to a fall of 7.1% in the third quarter. Analysts had predicted food sales would decline by around 6%.

International sales rose 23% during the period, reflecting the growth of the M&S business in markets including the Czech Republic and Greece, and there was a strong performance in online sales, which were up 20%.

“Our customers are responding positively to the actions we have taken, resulting in an improved sales performance this quarter in both general merchandise and foods,” said executive chairman Sir Stuart Rose.

“International continues to grow strongly and we have managed our costs and cash flow tightly. We are offering even better values across all price points in general merchandise and foods – without compromising our quality or ethical standards. While the outlook remains uncertain, we are confident that we are doing the right things for our customers and for our business.”

Rose said price-cutting and new ranges had improved the performance of the food business.

“Foods performance improved again this quarter, with customers welcoming our increased innovation, better ranging and sharper values highlighted by our Wise Buys, Dine In and Family Favourite offers.”

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