M&S loses market share

Marks & Spencer lost market share in the clothing market during the month of February, according to reports.

The high street retailer lost 12 basis points in the month, taking its slice of the clothing sector from 10.78% to 10.66%, according to FashionTrack data seen by The Daily Telegraph.

The data shows that the retailer’s womanswear ranges dipped 21 basis points while menswear slumped by eights points in February.

Rival Next held its share in the month, according to the report, which says Next grew by 13 basis points over the 24 weeks to March while Debenhams grew its share by eight basis points in the same period.

M&S’ share of the childrenswear sector fell by one basis point in the month, according to the report, this despite the retailer stating last month that its market share in the sector is its highest by volume and value in seven years.
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The retailer also reported in March that UK like for like sales dropped 4.2% in the fourth quarter of its financial year though group sales overall were up 1.9%.