«Breaking News» M&S's £12bn goal to overtake Waitrose: Chain could DOUBLE food arm in race with rival

Marks & Spencer is sizing up ambitious growth targets that could see the company double the amount of food it sells and propel it into the ranks of Britain's biggest supermarkets.

The surge would capitalise on the firm's new home delivery deal with Ocado and its plan to offer a full range of food in more stores to attract additional family shoppers.

City sources said the newly pencilled targets could see M&S's food sales soar to £12billion over the next five years. 

That is larger than the company's total sales at present, which include food, clothing and international sales.

On the rise: Marks & Spencer's ambitious growth targets could see it eclipse food sales at Waitrose and Co-op

Success would result in the firm sailing past arch rivals Waitrose and Co-op and perhaps even start to challenge Morrisons as it seeks to return to its roots as a store with broad appeal.

Germans Aldi and Lidl are also growing rapidly.

A source told The Mail on Sunday the target reflected an 'aspiration rather than a plan' at present but said it had been discussed at senior levels within the business. The source added: 'This brings everything together and all adds up to a big push.'

But it also reflects a new-found optimism in the business which has been slow to react to the massive shifts in the retail market over the past decade.

The grand vision for the company's food business follows a 'transformational' agreement last month that will mean the chain replaces supermarket Waitrose as the main partner to £1.5billion delivery service Ocado. The home shopping firm has been growing at 13 per cent a year.

A new blueprint for more M&S Food stores to carry the full range of more than 6,500 products was revealed by The Mail on Sunday a week ago and will provide the company with fresh momentum. 

A spokesman for M&S said the company did not comment on 'speculation'. But another senior source at one City institution, who declined to be named, said he thought the potential to double food sales was 'in the right ball park'.

He added: 'Food is now absolutely the engine for growth. M&S needs to focus on growing sales and cannot afford to cut itself profit growth while it executes that. The full range is pretty spectacular when you see it, but it's rare that you do because only a small number of stores carry it.'

Only about a dozen shops across the country offer the entire range at present.

The company is expected to use parts of shops currently selling clothing to be able to stock the full range of food in more branches. 

It is understood that out-of-town stores and shops with car parking space will be a priority. 

The vision for food is likely to be regarded as ambitious by many inside the business. It is not clear if the target will be made public in the short term.

Marks & Spencer's current annual sales total about £10.7billion, which includes around £6 billion of food sales and £3.7billion of clothing and home products.

Waitrose's sales were £6.4billion last year while Morrisons – the smallest of the so-called Big Four grocery chains behind Tesco, Sainsbury's and Asda respectively – said its total sales in stores and via online deliveries were in excess of £13billion.

Meanwhile, Marks & Spencer is also trying to revitalise its clothing sales. Despite struggling sales in stores the division has recently been enjoying much more flattering online success.

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https://hienalouca.com/2019/03/24/mss-12bn-goal-to-overtake-waitrose-chain-could-double-food-arm-in-race-with-rival/
Main photo article Marks & Spencer is sizing up ambitious growth targets that could see the company double the amount of food it sells and propel it into the ranks of Britain’s biggest supermarkets.
The surge would capitalise on the firm’s new home delivery deal with Ocado and its plan to offer a...

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