M&S beats long-time rival in unexpected grocery market shake-up
Latest market stats show M&S taking over as top middle-class grocer with record-breaking sales growth. Companyʼs multi-year transformation leads to historic shift in UK retail landscape
Recent market data shows that M&S has reached a big milestone - beating Waitrose in grocery market share outside the holiday season. The numbers (from early Nov-24) put M&S at 4.03pc versus Watroses 3.91pc share; which is quite a shift from last years figures
M&S didnt just win in market share: they showed amazing growth with an 11pc sales jump. Other stores lagged behind - Lidl got 6.9pc; Sainsburys hit 6.3pc while Tesco managed 5.8pc (Waitrose only grew by 1pc)
The win comes under Stuart Machins leadership who took control in mid-22. Before him‚ M&S had rough times - getting kicked from FTSE 100 back in 19. Now the companyʼs doing better than it has in almost 30-years: their clothes and food sections are both up‚ and theyʼre back in FTSE 100 since last fall
The companyʼs got big plans: theyʼre spending £480-mil to fix-up all 1‚500 stores. Jason Tarry - who used to run Tesco - is now leading Waitroseʼs response; theyre planning to spend £1-bil on store upgrades in next 3-yrs
You could argue we should have overtaken them already. I might even be arguing that internally here
Waitroses reply to all this was quick: they said newer stats show them doing better than other grocery stores‚ and theyre feeling good about Christmas
