As M&S announces its profit before tax has jumped 22% to £875.5mn – the highest in 15 years – the high street giant has stressed it is tackling the cyber attack “head on” with a “deep sense of responsibility”.
In its full year results for the 52 weeks ending 29 March 2025, M&S recognised the disruption the “highly sophisticated and targeted cyber attack” has caused. However, despite reports of empty shelves, its food sales were up 8.7% to £9.0bn.
Fashion, Home & Beauty sales also grew 3.5% to £4.2bn with an adjusted operating profit of £475.3mn (2023/24: £437.5mn). “Our authoritative lead in quality and value perception and much improved style credentials has broadened appeal and grown market share,” said Stuart Machin, chief executive of M&S.
“This renewed strength in product gives us the foundation to drive future growth through transforming our end-to-end supply chain and accelerating online. Consistent market outperformance over the past three years demonstrates the improvements we’ve made and I’m confident that with focused execution, we can deliver our plan.”
Since the cyber attack, M&S’ online clothing sales have been heavily impacted as the retailer made “the necessary decision” to pause online shopping. M&S stressed its stores have remained resilient. The retailer admitted that online disruption was likely to continue throughout June and into July.
Machin added: “It has been challenging, but it is a moment in time, and we are now focused on recovery, with the aim of exiting this period a much stronger business. There is no change to our strategy and our longer-term plans to reshape M&S for growth and, if anything, the incident allows us to accelerate the pace of change as we draw a line and move on.
“Over the last 140 years, M&S has overcome many challenges – testament to the longevity of this brand. This incident is a bump in the road, and we will come out of this in better shape, and continue our plan to reshape M&S for customers, colleagues and shareholders.”
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