Marks & Spencer delivered a robust third quarter, driven by strong food sales and progress in its reshaping strategy, despite softer performance in Fashion, Home & Beauty.
Its trading statement for the 13 weeks to 27 December 2025 reveals that group sales for the 13 weeks to 28 December 2025 reached £4.99bn, up 24.2% year-on-year, boosted by the consolidation of Ocado Retail. Excluding Ocado, group sales rose 3.3%.
Food remained the standout performer, with sales up 6.6% and like-for-like growth of 5.6%. UK volume grew 2.3%, and market share hit a record 4.0% in November. M&S credited its investment in value ranges and innovation, alongside strong execution during the festive period. “We are the UK’s fastest growing grocer for families,” said chief executive Stuart Machin. “Millions more trusted M&S to deliver the family Christmas.”
Fashion, Home & Beauty sales fell 2.5%, with like-for-like down 2.9%. Declining high street footfall and ongoing recovery from last April’s cyber-attack offset online gains. Machin noted the division is “getting back on track” and highlighted strong sell-through in seasonal sales and positive customer response to new ranges.
International sales edged up 0.9%, while Ocado Retail grew 13.7%, with M&S products accounting for around 30% of Ocado.com sales.
Looking ahead, Machin said M&S enters 2026 “full of ambition and laser focused” on reshaping the business, with plans to accelerate investment in value, quality, and digital experience. Full-year guidance remains unchanged.
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