M&S Reports Strong Christmas Food Sales Growth
LONDON (Reuters) - British retailer Marks & Spencer's food business enjoyed robust trading in the run-up to Christmas with sales up 6.8% in the four weeks to Dec. 28 and its market share rising to a record 4.8%, industry data showed on Wednesday.
Market researcher NIQ said M&S was the UK's second-fastest growing bricks-and-mortar food retailer after discounter Lidl, whose sales rose by 8.5%.
Online supermarket Ocado remained the fastest growing of all grocers with sales up 13.9%.
Most of NIQ's data echoed a report from rival market researcher Kantar on Tuesday. However, Kantar does not include M&S in its UK grocers data set.
M&S typically outperforms rivals at Christmas as consumers trade up to its premium ranges.
In November, M&S, which also sells clothing and homewares, forecast strong Christmas trading after reporting a 17% rise in first-half profit, adding to evidence its latest turnaround plan is working. Its shares are up 31% over the last year.
The group is due to publish its Christmas trading update on Thursday, with analysts on average forecasting food sales growth of 7.8% for the 13 weeks to Dec. 28, with clothing & home sales growth of 0.7%.
NIQ said UK supermarket sales in the four-week period were up 3.2% year on year, versus growth of 3.7% in the previous month.
(Reporting by James Davey; editing by Jason Neely)
