UPDATE 1-M&S expects return to profit growth after cyber hack related slump
It said these are being mitigated through improved buying, reinvestment in value to drive volume, and savings from its structural cost reduction programme.
British retailer Marks & Spencer forecast profit growth in its new financial year after it slumped 24% in 2025/26 due to a cyber hack which forced a seven-week suspension of online clothing orders, denting sales and margins.
The 142-year-old M&S, one of the biggest names on the UK high street, said it entered its 2026/27 year with a clear plan and a strong balance sheet and was focused on delivering further improvements to product availability and service levels. "Profit growth is expected to resume versus 2024/25," it said on Wednesday.
M&S said its outlook for the current year includes higher fuel, freight and input costs and continued government tax levies and regulatory headwinds for the sector. It said these are being mitigated through improved buying, reinvestment in value to drive volume, and savings from its structural cost reduction programme.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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