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Marks and Spencer Group PLC (LSE:MKS) and Primark, owned by Associated British Foods PLC (LSE:ABF), sit on opposite sides of a shifting UK retail divide created by recent heatwave trading, according to JP Morgan. At the heart of the research, is a clear net benefit from recent UK high temperatures, with online clothing growth expanding strongly even as physical store footfall declined.
Marks and Spencer Group PLC (LSE:MKS) and Next PLC (LSE:NXT) secured a bullish endorsement from Citi on Tuesday, as analysts maintained a top rating for the grocer and upgraded its retail rival. Shares in Marks and Spencer traded at 392p, up 1.90%, while Next reached 15,655p, up 2.49%, as the bank affirmed its 'buy' stance across the two prominent businesses.
Britain's Marks & Spencer has expanded its partnership with Germany's Zalando , enabling the online fashion retailer to fulfil M&S' direct-to-consumer orders across 22 continental European markets, it said on Tuesday.
While the rest of the grocery sector grinds through a low-growth summer, Marks and Spencer Group PLC (LSE:MKS) seems to be in a different market entirely, according to the latest data. Its food sales jumped 15.8% in the four weeks to 9 August, and 26.2% on a two-year view, according to Worldpanel by Numerator figures circulated by Citi.
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