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Stock impact report

John Lewis lost the middle classes to M&S. Now it's fighting to win them back [Yahoo! Finance]

TESCO PLC S/ADR (TSCDY) 
NASDAQ:AMEX Investor Relations: tescoplc.com/investors
Company Research Source: Yahoo! Finance
In the years before the pandemic, it was John Lewis that had been steaming ahead, while M&S struggled to wean itself off the “drug” of discounting. But recently the tables have started to turned, with M&S in its “strongest financial health since 1997”. Meanwhile, John Lewis has racked up hundreds of millions of pounds of losses, forcing it to cut jobs and close stores. A landmark moment arrived last year. Industry data, first revealed by The Telegraph, showed M&S overtaking Waitrose to claim the crown as grocer to Middle England for the first time. Figures published by Kantar found that M&S held a 4.03pc share of the grocery market in October, outpacing Waitrose, which had fallen to 3.91pc. On Thursday, bosses were quick to dismiss the findings. “The Kantar data always shows a bit of a mix,” says James Bailey, the Waitrose chief executive. “In our opinion, it doesn't always show the true story. There are some things Kantar is great at catching and some things it isn't.” Ins Show less Read more
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