Marks & Spencer’s first-half fiscal 2026 earnings showed a 7.8% increase in food sales and a 16.4% decrease in fashion sales. The cyberattack in April 2025 hit group adjusted profit before tax, which more than halved. Shares remained flat on Nov. 5. The cyberattack’s impact totaled GBP 324 million, offset by GBP 100 million in insurance proceeds.

The firm raised its fiscal 2028 cost-saving target to GBP 600 million and reiterated its medium-term targets of 4% operating margin in food and 10% in fashion. Despite challenges in the UK grocery market and online penetration, Marks & Spencer is optimistic about achieving profitable growth with its transformation road map.

Analysts maintain a fair value estimate of GBX 342 per share for Marks & Spencer, considering shares to be fairly valued. The company is set to provide an update on its medium-term strategy at its upcoming capital markets day on Nov. 11.

Read more at Morningstar: Marks & Spencer Earnings: Digests Near-Term Impact of Cyberattack