Retail giants Tesco and Marks & Spencer have both reported stronger-than-expected sales for the key Christmas trading season.
Tesco said UK sales rose 6.8% over the six weeks to 6 January, helped by strong demand for items in its premium Finest range.
The supermarket giant also raised its profit forecast for the full year.
M&S also reported robust demand for the festive period, especially in its food business.
While inflation - the rate at which prices are rising - has been falling in recent months, the past year has still seen big rises in food prices.This has pushed up the value of sales at all supermarkets.
M&S saw sales rise 8.1% over the 13 weeks to 30 December. Food sales were strong, while the retailer said womenswear was the "standout" performer in non-food sales.
However, M&S warned of an "uncertain" outlook for this year, "with consumer and geopolitical risks".
"We also face additional cost increases from higher than anticipated wage and business rates related cost inflation," the company added.
Earlier this week, British Retail Consortium warned that shoppers and retailers are set for a "challenging" year ahead, with higher living costs continuing to squeeze household budgets.
Tesco said it had seen growth in sales volumes, as well as sales values, and that it continued to outperform the wider market.
It saw strong sales of premium food products, with sales of its Finest range sales up by nearly 17% over the Christmas period.
At the same time, Tesco said it had cut prices on nearly 2,700 products as sought to head off competition from discount rivals such as Aldi and Lidl.
The supermarket now expects its retail operating profits to hit £2.75bn for the full year, above its previous guidance range of £2.6bn to £2.7bn.
On Tuesday, rival Sainsbury's reported an 8.6% increase in grocery sales over the six weeks to 6 January, helped by demand for festive food.
However, this increase was offset by falling sales of clothing and at its Argos business.
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2024-01-11 08:34:58Z
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