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Goldman Sachs

June 23, 2026

United Kingdom Retail

Sector ReportEquitiesConsumer Discretionary

The UK clothing market contracted by 3.8% yoy in the 12 weeks to 24th May. M&S and Next demonstrated strong comparative growth, significantly outperforming competitors like H&M and ASOS.

Key Takeaways

  • 1.The UK clothing market saw a -3.8% yoy decline over the 12 weeks to 24th May.
  • 2.M&S and Next outperformed the broader market, with sales up 13.1% and 7.8% respectively.
  • 3.Primark UK sales remained flat yoy during the 12-week period.

Table of Contents

  • What's interesting:
  • Disclosure Appendix

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