Continuing evidence of the resilience of the UK grocery market with the release of M&S FY2021 results.
- Strong food performance with LFL sales (excluding hospitality and franchise) up 6.9%
- M&S benefited from an increase in online demand over the last 12 months with online growth of 53.9%
- Successful integration with Ocado. M&S products are over 25% of Ocado’s average basket with plans to increase this to 50%
- MS2 scheme reinforces commitment to online-first approach using omnichannel stores
- Accelerated program to rotate the store estate into higher-quality space, addressing the drag from underperforming legacy stores.
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