M&S profits more than double despite cyber attack impact

Summarised from 2 outlets · Updated 5 Nov, 12:31 · Archive

Marks & Spencer's profits more than doubled to £403.2m in six months following recovery from a cyber attack last year.

Marks & Spencer's adjusted pre-tax profits more than doubled to £403.2m for the 26 weeks to 26 September, compared with £184.1m a year earlier. The recovery follows a cyber attack last year that forced the retailer to stop all online sales for about six weeks and caused empty shelves due to disruption to its logistics systems.

The food business has been the main driver of growth, performing 'ahead' of plan. M&S opened an 18,000 sq ft foodhall at Fairacres Retail Park in Abingdon in April, in a former Homebase unit.

Chief executive Stuart Machin said results from the fashion, home and beauty business 'fell short of their potential' despite bouncing back from the cyber attack's impact. Sales and profits in this division remain affected by disruption to product availability due to the 'long-tail impact' of the incident. Store sales were also partly affected by a long period of hot weather over the summer.

However, profits were lower than the same period in 2024, amid weaker fashion, home and beauty performance and higher costs. Machin warned the company faces an 'onslaught of cost headwinds' ahead.

M&S profits more than double despite cyber attack impact — Image: Oxfordshire Guardian

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How it is being reported

M&S reveals profits surge following costly cyber attackM&S has revealed that profits more than doubled over the past six months amid a revival following last year’s cyber attackOxfordshire Guardian · 5 Nov, 12:15
M&S reveals profits surge following costly cyber attackM&S has revealed that profits more than doubled over the past six months amid a revival following last year’s cyber attackOxford Mail · 5 Nov, 12:15

In this story: Marks & Spencer · Stuart Machin · Abingdon · Oxford · Didcot

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