Marks & Spencer ahead of Aldi and Lidl as turnaround gains momentum

Lower prices have led to gains in the recent Mark & Spencer's Food Sales Photo: Holly Adams/Bloomberg -81a0-706e486ec812.html?direct=true&id=58219076-4364-4160-81a0-706e486ec812' class='tmg-particle audio-player wrp-58219076-4364-4160-81a0-706e486ec812' title='Marks & Spencer ahead of Aldi and Lidl as momentum picks up' data-business-type='editorial' loading='eager' scroll='no' Frameborder='0'allow='web-share' style='width: 100%; min-width: 100%; border: none; position: static; display: block; padding: 0px; margin: 0px; height: 32 pixels;'>

Signs & Spencer's grocery store sales are growing faster than Aldi and Lidl as reform led by chief Stuart Machin gathers pace.

Industry data shows M&S was the fastest-growing traditional grocer over the past 12 weeks by total cash register volume grew by 11.9% compared to a year earlier.

According to research company NIQ, growth was 6% for Aldi and 10.4% for Lidl.

Only Ocado's sales grew faster, up 12.2% on the previous year.

NIQ Total Till figures are based on increased sales at each retailer, which may be affected by higher prices. However, Mike Watkins, NIQ's head of UK retail and business insight, said both M&S and Ocado attracted «more new shoppers than other retailers including Aldi and Lidl» and sold more products overall.

Events including Valentine's Day and Shrove Tuesday have given M&S a boost with its lunch deals, he added.

The figures are the latest sign that Mr Machin's efforts to turn around M&S are bearing fruit . results.

Sales and profits rose across the group and the department store returned to the FTSE 100 index last summer after a four-year absence.

Mr Machin said in January his stores were winning back shoppers from competitors, including Waitrose, the main middle-class competitor.

The M&S boss added: “I think it’s fair to say we think we can gain share of the wider food market overall. We don't focus on just one competitor.»

A record number of shoppers bought groceries from M&S over the Christmas period, helped by a wave of recent price cuts.

NIQ data also exposed pressure on Morrisons and Asda , which are losing market share.

Asda's market share has fallen to 12% from 12.5% ​​this time last year, despite sales rising 2%. Morrisons' market share fell from 8.2% to 8%, although sales rose 3.6%.

Both supermarkets have been taken over in debt deals in recent years.

Rising interest rates rates led to higher interest rates. put more pressure on the business as interest costs soar. Morrisons is owned by CD&R, while Asda is co-owned by billionaire brothers Issa and TDR Capital.

Morrisons recently began matching its prices with Aldi and Lidl in a bid to win back lapsed customers. to German discounters.