British retailer will sell rival branded goods in its stores across the UK
British retailer Marks and Spencer will soon stock up to 400 other household brands, such as Kellogg’s and Coca-Cola, alongside its own brand products.
The decision comes after successful trials in stores in the north-east and south-east of England. The announcement came as M&S reported profits of £306.7m for the six months to September.
The figure was similar to the profit of £307.8m made in the same period last year. M&S said the move to stock branded goods would enable it to ‘meet more of our customers’ regular shopping needs’.
Chief executive Stuart Rose told the BBC the company was rolling out key brands, such as Tabasco sauce and Bovril, to satisfy customer demand. ‘Customers are saying to us that I like my favourite brand… and you, Marks and Spencer, don’t sell it so I have to go somewhere else to buy it,’ Mr Rose said. He said M&S would not reduce its own range of foods.
Overall, the firm’s food sales were up 1.8% – though they fell by 0.3% on a like-for-like basis in the half-year.