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Change of course: Marks & Spencer boss Stuart Machin
A third of households now buy food at Marks & Spencer as its recovery accelerates.
In a vote of confidence in boss Stuart Machin, research group NIQ said 33 per cent of households bought food and drink at M&S in the 12 weeks to October 5.
M&S now has the same market share as rival Waitrose.
A year ago, Marks accounted for 3.4 per cent of grocery spend, while Waitrose accounted for 3.8 per cent.
Both are now at 3.7 percent, NIQ said. This is another sign that Machin’s strategy is paying off after investing in larger feed halls and launching new products.
It is benefiting from more shoppers doing their weekly shopping with them rather than being seen as a candy retailer.
Some 800,000 customers have been drawn through its doors over the past four weeks as retailers prepare for their peak trading season before Christmas.
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