Marks & Spencer’s profits rose to £355m in the six months to 26 September, compared with £3.4m in the same period a year earlier. The retailer said it had partly recovered from a cyber-attack that began over Easter 2025 and forced it to close its clothing and homewares website for more than six weeks.
Group sales increased by 16.2% to £9.2bn. However, M&S said sales and profits in clothing and homewares remained below levels from two years earlier, as the incident’s effects on ordering processes lasted longer than expected. The company said limited product availability and a greater share of online sales, which carry higher fulfilment costs, had also affected profitability.
Clothing, beauty and homewares sales rose 17.5% to almost £2bn compared with the same period last year, which was affected by the attack. M&S said product availability had now recovered, with a better balance between core and seasonal stock, and expected the business to improve in the second half. It also said it had taken a larger share of a declining clothing market, though trading conditions remained challenging.
Chief executive Stuart Machin said the brand was in good health and attracting a broader customer base, but that the results had not reached their potential and further work was needed.
Food sales increased by almost 14% to £5.2bn. M&S opened seven new food stores and expanded or refurbished others, and said it was gaining share in everyday products including meat, dairy and fresh produce after investing £50m in lower prices and quality improvements.
The group’s Ocado joint venture reported a half-year profit of £25.6m, compared with a £3.1m loss a year earlier. Sales rose 16%, while delivery efficiency improved. M&S also expects to reduce costs by £120m this year across technology, logistics and stores, partly offsetting new expenses, including £35m linked to a packaging levy.
Sources: The Guardian Business.