Marks and Spencer reported third quarter group sales of 4.993 billion pounds, up 24.2% from last year. Quarterly group sales, excluding Ocado Retail, up 3.3% to 4.150 billion pounds. Food sales rose strongly to 2.719 billion pounds, an increase of 6.6% with like-for-like growth of 5.6%. Fashion, Home & Beauty recorded sales of 1.273 billion pounds, down 2.5% with like-for-like sales down 2.9%. International sales edged up 0.9% to 158 million pounds. Ocado Retail contributed 843 million pounds, consolidated from April 2025.
Food volumes outperformed the market, with UK volume growth of 2.3%. Market share reached 4.0% in November, a historical high. Strong execution and sell-through of Christmas hero lines reduced markdowns and waste compared to last year. Growth was supported by core grocery categories, innovation in ready meals, bakery and deli, and expansion of value ranges such as "Remarksable Value" and "Bigger Pack, Better Value," which grew by 20%. New and renewal stores, including Cannock and Chiswick, exceeded expectations.
Fashion, Home & Beauty sales declined 2.5%, reflecting reduced high street footfall and lingering stock management issues from earlier in the year. Online sales grew, offsetting some store weakness. Higher stock was moved into Sale during December, but sell-through rates were strong.
International sales rose 0.9%, driven by new wholesale agreements, online growth and Food franchise, which offset shipment phasing in Fashion and weaker performance in India.
Ocado Retail sales increased 13.7%, supported by volume growth of 10.7% and order growth of 11.0%. M&S sales on Ocado.com grew 16.3% and accounted for around 30% of total Ocado Retail sales.
Overall, M&S delivered a solid Christmas trading period, with Food continuing to outperform and Fashion, Home & Beauty showing signs of recovery, despite fragile consumer confidence and milder weather.
The company said that its full-year guidance remains unchanged.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.