M&S Shows Trading Momentum as Christmas Approaches, Reports NIQ
LONDON (Reuters) - British retailer Marks & Spencer's food business has entered Christmas trading with momentum as industry data showed it to be the country's second fastest growing bricks-and-mortar grocer after discounter Lidl.
Market researcher NIQ said on Wednesday that M&S's grocery sales in the 12 weeks to Nov. 30 were up 10.6% year on year, while Lidl's sales increased 11.6%.
Online supermarket Ocado was the fastest growing of all grocers with sales up 16.2%.
Most of NIQ's data echoed a report from rival market researcher Kantar on Tuesday. However, Kantar does not include M&S in its data set.
M&S typically outperforms rivals at Christmas as consumers trade up to its premium ranges.
Last month, 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 43% this year.
NIQ said UK supermarket sales in the four weeks to Nov. 30 were up 3.7% year on year, slowing from growth of 4.0% in the previous month.
It said the slowdown reflected milder weather, the distraction of Black Friday and consumers holding out until December for their Christmas shopping.
NIQ noted that the percentage of sales purchased on promotion in November increased to 25% from 24% in October.
(Reporting by James Davey; editing by Jason Neely)
