Boohoo worth more than M&S after Christmas sales surge

Fashion firm enjoys record trading as Marks & Spencer teeters near junk statusThe stock market value of the online fashion firm Boohoo has overtaken Marks & Spencer thanks to strong Christmas sales, while M&S was warned it faces a possible downgrade in its investment rating to junk status.Sales at Boohoo jumped 44% in the weeks before 25 December, while M&S suffered fresh setbacks. Last week the high street stalwart revealed it had bought too many tight-fitting jeans and chinos.