M&S profits more than double after the cyber-attack but its boss warns of an 'onslaught' of costs from tax rises
An M&S food store, where food sales surged 13.9% in the six months to September as the retailer absorbed roughly £100 million in lost profit from the April 2025 hack.
Adjusted pre-tax profits at Marks & Spencer more than doubled to £403.2m in the six months to 26 September, beating analyst forecasts of £399m, as food sales surged 13.9% and total revenues rose 16.2% to £9.26bn. Chief executive Stuart Machin said the brand is "in good health" but results "fell short of their potential" because clothing availability was still constrained by the Easter 2025 hack's "long-tail impact".
M&S food is now Britain's fastest-growing grocer, picking up 1.5 million more customers than a year ago and growing volumes by 11.9%.
Clothing and homeware profits remain below their level of two years ago, with spring collections ordered while ordering systems were still down after the hack.
M&S has absorbed around £35m in new costs from packaging taxes, higher National Insurance and Middle East supply disruption.
