Marks & Spencer sees 8.7% growth in food sales over Christmas period
Marks & Spencer Group PLC’s Christmas Trading report reveals a strong performance in food sales, making M&S the top-performing store-based grocery retailer in the UK
Print10 January 2025
Marks & Spencer Group PLC has published its Christmas Trading report for the 13-week period ending 28 December 2024.
Food sales increased 8.7%, with Like-for-Like (LFL) sales up 8.9%. Marks & Spencer sustained UK volume growth of 6.6% from the first half into the Christmas trading period driven by increased customers and transactions, and was the top performing store-based grocery retailer in volume and value over the period1.
Sales growth
Sales growth continued to be driven by investment in quality and value, and 500 new lines in the period.
Core categories, such as meat, produce, grocery and in-store bakery grew double-digits as customers chose M&S for more of their everyday shopping.
There was a strong performance from innovation and quality upgrades in areas such as Gastropub, as customers chose M&S as an affordable restaurant quality alternative to eating out.
International sales
International sales were down 2.8%, largely driven by continued challenging market conditions in India and the phasing of franchise shipments.
Reset actions are underway and M&S remain confident in the growth opportunity over the medium term.
Outlook
As M&S enter the new year, the outlook for economic growth, inflation and interest rates is uncertain and the business faces higher costs from well-documented increases in taxation.
However, there remain substantial opportunities and M&S are focused on what is within its control, as it reshapes M&S for growth.
Therefore, as indicated at the half year results in November, we are confident of making further progress in the remainder of the year.
Trusted value
“In Food, our focus on quality, innovation and trusted value translated into strong sales and market share growth, with M&S the top performing store-based grocery retailer over the period,” said Stuart Machin, chief executive, Marks & Spencer.
Machin noted that 500 new lines were launched, and sales of new Christmas products grew 14%. Core category sales grew strongly as more customers ticked off their whole shopping list at M&S.
“There were a few growing pains as we delivered our biggest ever volumes, particularly in smaller stores, reaffirming the opportunity to accelerate transformation of the Food supply chain and go even faster on store renewal and rotation.
“As in Food, these opportunities simply make us more resolute to go faster on our plans to modernise the supply chain and utilise digital and technology to maximise our online potential,” concluded Machin.
- Kantar FMCG Purchase Panel: Total grocery 12 weeks ended 29th December 2024
Read more: Marks & Spencer announces 210 seasonal jobs for Christmas rush
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