Retailer is starting its recovery from devastating impact of cyber incident
Food sales are continuing to grow at M&S as the retailer begins its recovery from this year’s devastating cyber attack.
Describing 2025 as “an extroardinary moment in time”, the retailer’s results for the 26 weeks to 27 September reflect the debilitating impact of the cyber attack on its bottom line.
Statutory pre-tax profits collapsed by a withering 99.1 per cent to just £3.4mn as a result of the incident.
Overal turnover rose 22.5 per cent to £7.9bn, reflecting an underlying robust performance, while the Food division enjoyed a sales increase of 7.8 per cent, with growing customer numbers and market share.
“The first half of this year was an extraordinary moment in time for M&S,” said chief executive Stuart Machin. “However, the underlying strength of our business and robust financial foundations gave us the resilience to face into the challenge and deal with it. We are now getting back on track.
“Today, we are regaining momentum. In Food we continue to outperform the market, with three years of consecutive monthly volume growth. Our obsession with quality and innovation is paying off, underpinned by a relentless focus on trusted value, with value ranges growing year on year.”
Machin said M&S expects profits to at least be in line with last year in the second half, despite significant market headwinds including cost increases from new taxes.
The retailer aims to grow to 420 Food stores and to create “a more focused, productive full line estate of around 180 stores.” Some 14 new Food store openings are anticipated for this financial year, with more than 50 more approved for opening.
