M&S profits more than double to £403m in rebound from last year's cyberattack despite an 'onslaught' of costs
An M&S food store, with the retailer's food business described as running ahead of plan while clothing sales continued to drag on the overall recovery.A data graphic showing M&S's recovery results, with food sales up 13.9% while chief executive Stuart Machin said the fashion transformation remains "in the foothills.
Food emerged as the standout performer, with sales up 13.9% and volume rising 11.9%, cementing M&S's position as Britain's fastest-growing grocer. Fashion, home and beauty profit fell nearly £93m short of two years ago, with chief executive Stuart Machin conceding the business 'left money on the table' on core womenswear.
M&S has absorbed roughly £35m in extra costs from packaging taxes, higher pay, national insurance rises and Middle East supply disruption.
Shares rose 4% on the results, bringing 2026 gains to 31%, with investors focusing on the food performance and 'solid' October trading.
Machin says the fashion transformation is still 'in the foothills' despite improved product ranges.
