Marks & Spencer is losing market share in clothing as the battle to win customers continues to intensify, particularly in the middle market.
Data from market research company FashionTrak showed that M&S lost 12 basis points of market share in February, the Telegraph reported. Marks & Spencer’s womenswear ranges lost the most, falling 21 basis points.
The figures showed that in the 24 weeks to March 1, M&S lost 49 basis points of share altogether.
The data also showed that prices have risen in womenswear apparel in the past few months ahead of the full impact of sterling weakness, which is expected to hit costs for retailers later in the year, dependent on how far ahead they have hedged.