Marks & Spencer (LON: MKS) shares rose about 2.7% in early Thursday trading after the retailer reported a solid Christmas trading period, driven by another strong performance in its food business and improving momentum in fashion and home categories.
For the 13 weeks to 27 December, group sales excluding Ocado rose 3.3 percent to £4.15 billion. Total food sales increased 6.6 percent, with like-for-like growth of 5.6 percent, as the business continued to outperform the wider grocery market.
The company said underlying UK food volumes rose 2.3 percent, helping it reach a record 4 percent market share in November.
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Chief Executive Stuart Machin said “a record number of customers shopped M&S this Christmas,” highlighting gains across festive food, gifts and partywear.
“Food sales were strong and the business continues to outperform, hitting a new market share milestone in the period. We are the UK’s fastest growing grocer for families,” he added.
Fashion, Home & Beauty sales fell 2.5 percent, with like-for-like sales down 2.9 percent, though online demand improved. The company said performance was affected by reduced high street footfall and the lingering impact of a stock data issue earlier in the year.
Despite this, M&S regained market share leadership in the category, with new season products “resonating well” with shoppers.
International sales were up 0.9 percent, while Ocado Retail delivered a 13.7 percent increase, supported by order and volume growth.
Machin said M&S enters 2026 “full of ambition” and focused on reshaping the business for further growth, with continued investment planned in food innovation, value and store transformation. The company said its guidance remains unchanged.
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