Two-speed performance for Marks & Spencer during the Christmas period. In the 13 weeks ending December 27, the group recorded a 6,6% growth in food sales, with a like-for-like increase of 5,6%, which pushed market share to a new all-time high in November, exceeding the 4% threshold for the first time.
This result confirms the strength of the food business, which is increasingly central to the British retailer's strategy. The fashion, home, and beauty divisions, however, performed differently, declining 2,5% year-over-year, in line with market expectations. Despite the decline, CEO Stuart Machin emphasized a marked improvement compared to the first half of the year, describing the division as "getting back on track" in the final phase of its recovery.
The online channel showed positive signs, and the Christmas collections performed well, particularly women's party wear, which grew 5%, while menswear posted its best-ever Christmas Eve result. International sales increased 0,9%, contributing to the group's overall stability.
On the online grocery front, Ocado Retail M&S reported 13,7% sales growth, driven by a 10,7% increase in volume and an 11% increase in orders. M&S highlighted that sales of its products on Ocado.com grew by 16,3%, representing 30% of Ocado Retail's total turnover.
"We enter the new year with great ambition and fully focused on our transformation plan," said Machin. "In Food, we will continue to focus on first-to-market innovation and further investments in quality and price."
Looking ahead, Marks & Spencer confirmed its unchanged annual outlook, reiterating its intention to accelerate the transformation of its supply chain, store network, and digital platforms. Key projects include the opening of a new Food distribution center in Bristol this summer, the inauguration or renovation of 11 stores by the end of the year, and the spring relaunch of the Sparks loyalty program, with greater customization and enhanced app features.
According to Louise Deglise-Favre, lead apparel analyst at Global Data, Christmas results show a divided performance: “M&S outperformed the UK food market, but underperformed in clothing. Food was once again the main driver, supported by 2,3% UK volume growth and strong execution of seasonal ranges, which allowed for lower markdown levels compared to the previous year.”
Overall, the group closed the holiday season with Food as its strategic pillar and with signs of gradual recovery in non-food categories, waiting for the transformation plan to fully unfold its effects during 2026.
