M&S achieves highest growth in UK food retail last quarter

M&S's growth outpaced that of Lidl and Aldi

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According to research from NielsenIQ, Marks & Spencer was Britain’s fastest growing retailer in the 12 weeks to 4 December.

In a sign that the group’s latest turnaround plan is making headway, NielsenIQ said M&S’s sales rose 9.1% in the period year-on-year.

This outpaces both Lidl with growth of 8% and Aldi with growth of 4.6%.

However, they were the only three UK food retailers that grew sales compared to the same period last year. Of the ‘Big Four’, market leader Tesco was the best performing, with its 0.7% sales decline significantly better than Sainsbury’s, Asda and Morrisons, who recorded declines of 4.6%, 4.2% and 5.6% respectively.

Last month, M&S, exceeded forecasts for first-half profit and upgraded its earnings outlook for the second occassion this year, sending its stock rocketing, based on predictions that a turnaround could materialise. So far this year, M&S’s shares are up more than 70%.

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