Following Kantar’s new data showing UK grocery inflation has fallen to single digits (9.7%) for first time in 16 months, Marks and Spencer has this week followed the path of Tesco and Sainsbury’s by reporting strong results.
Highlights:
- Food sales have performed particularly well – up 14.7%, ‘outperforming the market on volume and value’
- ‘Remarksable value’ sales growth of 45%
- Increase in customer numbers across all six months in the reported period
- Ocado Group Retail sales increased 6.9%, including M&S Food volume growth ‘starting to accelerate’
- Clothing & Home sales up 5.7%, with store sales up 6.2% and online up 4.6%, of which 64% of online orders were fulfilled through Click & Collect.
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