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11 Jan 2022

M&S was Britain's Fastest Growing Retailer in December Quarter

M&S was Britain's Fastest Growing Retailer in December Quarter

The Index Today

Market researcher NielsenIQ said on Tuesday, Marks & Spencer hailed as Britain's fastest growing food retailer in the key Christmas quarter, as further data provided shows that the company's latest turnaround programme is gaining traction. Report shows that the M&S's grocery sales soared 9.4% in the 12 weeks to Jan. 1 from the same period a year earlier, with growth accelerating from its previous report.

M&S shares were up 1.6% at 0915 GMT, extending gains over the last year to 92%.

Some analysts have high hope is M&S, which also sells clothing and homeware, could upgrade its 2021-22 profit outlook again on Thursday when it publishes its own third-quarter trading update.

The researcher said UK shoppers spent a total of 7.1 billion pounds ($9.6 billion) at supermarkets in the two weeks to Dec. 25, up from 6.7 billion pounds in 2020.

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