Table of Contents
Radical change: Marks & Spencer boss Stuart Machin (pictured)
Marks & Spencer is the fastest growing supermarket in the country as its recovery accelerates.
In a boost for boss Stuart Machin, data from research group Kantar showed M&S sales rose 12.4 per cent in September. That was the biggest rise in the sector, outpacing gains at rivals Tesco and Sainsbury’s, and discounters Aldi and Lidl.
Waitrose, one of M&S’s main competitors in the battle for middle-class shoppers, saw growth of just 1.9 per cent.
Under Machin’s leadership, M&S has invested in larger food halls and launched new products.
It is benefiting from more shoppers doing their weekly shopping with them rather than being seen as a candy retailer.
Kantar said Tesco has achieved its biggest market share in almost seven years, but private equity-owned supermarket chain Asda is failing, with its share falling from 13.7 per cent to 12.6 per cent.
Sainsbury’s market share rose to 15.2 per cent from 14.8 per cent a year ago.
DIY INVESTMENT PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-to-use portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free Fund Trading and Investment Ideas
interactive inverter
interactive inverter
Fixed fee investing from £4.99 per month
sax
sax
Get £200 back in trading fees
Trade 212
Trade 212
Free trading and no account commission
Affiliate links: If you purchase a This is Money product you may earn a commission. These offers are chosen by our editorial team as we think they are worth highlighting. This does not affect our editorial independence.
