Tesco and M&S enjoy strong Christmas but remain cautious over
By A Mystery Man Writer
Description
Both retailers give muted profit upgrades as they point to cost pressures
![Tesco and M&S enjoy strong Christmas but remain cautious over](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fwww.ft.com%2F__origami%2Fservice%2Fimage%2Fv2%2Fimages%2Fraw%2Fhttp%253A%252F%252Fcom.ft.imagepublish.upp-prod-eu.s3.amazonaws.com%252Ff603ff44-bbee-11e8-8dfd-2f1cbc7ee27c%3Fsource%3Dnext-article%26fit%3Dscale-down%26quality%3Dhighest%26width%3D700%26dpr%3D1?source=next-opengraph&fit=scale-down&width=900&overlay=https://www.ft.com/__assets/creatives/x/ft-overlay.png&overlay_height=0.15&overlay_y=30&overlay_gravity=south_east)
Opening Quote: Tesco beats 'em and joins 'em
![Tesco and M&S enjoy strong Christmas but remain cautious over](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F59ff98b6-eedf-4790-a450-4cfceb424f40.jpg?source=next&fit=scale-down&dpr=2&width=240)
Marks & Spencer Group PLC
![Tesco and M&S enjoy strong Christmas but remain cautious over](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F7b73f96d-b324-4124-8107-9c143f353899.png?source=next&fit=scale-down&dpr=2&width=240)
Marks & Spencer Group PLC
![Tesco and M&S enjoy strong Christmas but remain cautious over](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fcdb6fcbe-cc71-4466-b2c2-c47c8e663ffa.jpg?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1)
Tesco and M&S enjoy strong Christmas but remain cautious over price rises
![Tesco and M&S enjoy strong Christmas but remain cautious over](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fe5bc9cb7-03b7-4504-880a-ef610648f13e.jpg?source=next&fit=scale-down&dpr=2&width=240)
Marks & Spencer Group PLC
![Tesco and M&S enjoy strong Christmas but remain cautious over](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4d45fbc6-69ae-421b-b545-fdd7bed41c92.jpg?source=next&fit=scale-down&dpr=2&width=240)
Coronavirus
High-tech heists highlight growing digital challenge banks face
John Kingman being lined up to chair Tesco Bank
Tesco Bank hack could prove ruinous for challenger lenders
![Tesco and M&S enjoy strong Christmas but remain cautious over](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fe4ce63b8-5532-4524-be0f-1c57ff4cad14.jpg?source=next&fit=scale-down&dpr=2&width=240)
Coronavirus
![Tesco and M&S enjoy strong Christmas but remain cautious over](https://www.ft.com/__origami/service/image/v2/images/raw/http%3A%2F%2Fftalphaville.ft.com%2Ffiles%2F2012%2F01%2FTesco-chart-e1326356078166.jpg?source=next-article&fit=scale-down&quality=highest&width=600&dpr=1)
Tesco's Big Price Drop
![Tesco and M&S enjoy strong Christmas but remain cautious over](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4ad781d3-c698-458a-a016-473560389440.jpg?source=next&fit=scale-down&dpr=2&width=240)
Tesco PLC
![Tesco and M&S enjoy strong Christmas but remain cautious over](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F9658e59a-43ba-4d6c-949c-8b9ead580131.jpg?source=next&fit=scale-down&dpr=2&width=240)
Tesco PLC
High-tech heists highlight growing digital challenge banks face
from
per adult (price varies by group size)