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M&S expects profit recovery after cyber hack-driven slump
- On Wednesday, May 20, 2026, Retailer Marks And Spencer forecast a return to profit growth in 2026/27 after adjusted pre-tax profits slumped 23.8% to £671.4 million last year, hit by a major cyberattack.
- The 142-year Retailer Marks And Spencer was forced to suspend online Clothing orders for seven weeks after the cyberattack around Easter last year, with click-and-collect services halted for nearly four weeks.
- While Food sales grew 7% and the division expanded market share, Clothing sales slid 7.7% due to restricted availability and supply chain disruption from the hack, which incurred £131.3 million in costs.
- CEO Stuart Machin said, "We were laser focused on our customers, worked incredibly hard to recover our business, and we came out stronger," despite retailers facing headwinds from taxation and regulation.
- Investec analyst Kate Calvert noted the group has made progress, yet "there is still so much to be done on the Reshaping Marks And Spencer transformation programme with plenty of self-help and market share to go after.
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Varejista said that his perspective for the current year considers higher costs of fuel, freight and inputs caused by the war in Iran, in addition to the continuity of governmental taxes and regulatory challenges for the sector
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Cyber attack hit M&S profits by £131.3m
Marks & Spencer suffered a sharp fall in its annual profit following last year’s high-profile cyber attack. The retailer was forced to halt all orders through its website and apps following last April’s hack. According to the company’s annual results, profits were hit by £131.3m in costs related to the cyber incident. The retailer said pretax profit dropped 29 per cent to £364.6m in the 52 weeks to March 28, from £511.8m the year prior. Adjusted…
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Total News Sources21
Leaning Left4Leaning Right1Center4Last UpdatedBias Distribution45% Left, 44% Center
Bias Distribution
- 45% of the sources lean Left, 44% of the sources are Center
45% Left
L 45%
C 44%
11%
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