Marks & Spencer group revenue 2023, by segment
supermarket heavyweights.
M&S clothing
As a clothing and home textile retailer, Marks and Spencer appeal to mid-market consumers. With the proportion of clothing retail losing to food, the revenue generated from home and clothing has taken a downward turn, steadily falling over the last decade. However, in 2023, sales reached 3.7 billion British pounds, the highest figure since the financial year ending in 2017.
M&S food
The food segment has been slowly but surely eating away Marks and Spencer’s clothing retail share in the company’s sales revenue. Yet M&S has the appetite for doing even more for its food business. Taking effect from 2020, Marks and Spencer started online grocery shopping and delivery through a partnership with Ocado. UK’s biggest online supermarket Ocado had previously been working with Waitrose for close to 20 years.
Marks and Spencer is a double retailer of clothing and food, with the balance tipping towards the latter. As seen in the present statistic, Marks & Spencer’s generated a far greater revenue in the UK from its food segment than it did from clothing and home in 2021. Marks & Spencer’s supermarket business might outperform the retailer’s clothing and home lines, but it has yet to wedge itself among UK M&S clothing
As a clothing and home textile retailer, Marks and Spencer appeal to mid-market consumers. With the proportion of clothing retail losing to food, the revenue generated from home and clothing has taken a downward turn, steadily falling over the last decade. However, in 2023, sales reached 3.7 billion British pounds, the highest figure since the financial year ending in 2017.
M&S food
The food segment has been slowly but surely eating away Marks and Spencer’s clothing retail share in the company’s sales revenue. Yet M&S has the appetite for doing even more for its food business. Taking effect from 2020, Marks and Spencer started online grocery shopping and delivery through a partnership with Ocado. UK’s biggest online supermarket Ocado had previously been working with Waitrose for close to 20 years.