LONDON, June 25, 2026, 16:37 (BST)
- Marks and Spencer Group plc (LON:MKS) traded in a 382.4p to 382.6p range. Volume was 5.96 million shares.
- Ocado and M&S were NIQ’s top picks for fastest-growing UK grocers in the past 12 weeks.
- M&S’s 50% stake in Ocado Retail gives shareholders exposure to both of the main growth channels.
Marks and Spencer Group plc (LON:MKS) finished at 382.4 pence bid and 382.6 pence ask in London trade, moving higher after a 377.8p close on Wednesday. Volume was 5.96 million shares. The FTSE 100 rose 0.76%.
NIQ released the latest numbers. Ocado sales jumped 16.1% over 12 weeks, with M&S up 14.3%. Both were the fastest among big grocers in the update. UK supermarket till sales climbed 4.6% in the four weeks to June 13. But in the final two weeks, growth slowed to 0.4% and unit sales dropped 1.7%. Mike Watkins, NIQ’s head of retailer and business insight, said “hot weather boosted demand for summer essentials.” NIQ
M&S shareholders get a clearer read from these numbers because of the ownership tie. M&S holds half of Ocado Retail. Ocado Group plc (LON:OCDO) owns the other half. M&S started consolidating Ocado Retail from April 6, 2025. For the last 52 weeks, Ocado Retail’s sales climbed 15% to £3.25 billion, and adjusted operating profit moved to £14.7 million from a £20.4 million loss.
M&S Food posted fiscal 2026 sales of £9.72 billion, rising 7%, and adjusted operating profit of £444.5 million. Margin for the Food unit slipped to 4.6%, down from 5.4%. Fashion, Home & Beauty sales fell 7.7%, with margin dropping to 5.5% from 11.3%. Chief Executive Stuart Machin said Food was the “standout performer.” M&S said it sees profit growth picking up from 2024/25 and plans to spend £650 million to £750 million in capital this year, with about two-thirds for Food. Marks & Spencer
Quality of growth is what investors are watching. NIQ said 25% of consumer-goods sales came from promotions, up from 23.5% last year. M&S said this month it spent more than £30 million to cut prices on over 65 basic products. Faster volumes can help the new-store push. Deeper promotions, though, can pressure the Food margin.
Retail is still under pressure. The CBI’s June sales balance came in at -54, down from -46. The three-month average dropped further to -56, the weakest figure since records started in 1983. CBI’s Martin Sartorius said the slowdown was due to “depressed consumer sentiment and rising cost pressures.” M&S’s Fashion division takes most of the risk, but grocery continues to perform. Reuters
M&S didn’t put out any new regulatory news on Thursday. Its most recent RNS filings were the annual report and a share-count notice on June 1. With no fresh statement from the company, grocery data stands out as the main new driver for the latest rerating.
Shares change hands near 382.5p, giving the stock a multiple close to 16 times projected 2026 adjusted EPS. The median one-year target price from 16 analysts is 439.5p, a jump of 15% over Thursday’s close. Price targets run from 360p up to 500p.
