Marks & Spencer’s adjusted pretax profit more than doubled to £403.2 million for the half-year ending Sept. 26, but higher expenses and weaker fashion, home and beauty profits left it below the comparable 2024 level, The Independent reported Wednesday.
M&S recorded £9.25 billion in sales, 16.2% above the year-earlier period, the newspaper said. Adjusted pretax profit was £184.1 million a year earlier. The company attributed the shortfall against 2024 to lower profits in fashion, home and beauty and higher costs.
Food sales rose 13.9%, while volume was up 11.9%. M&S linked the gains to new stores and investment; The Independent said the food business was performing ahead of plan. Fashion, home and beauty sales increased 17.5% year over year as online sales recovered from last year’s cyber incident, according to the report.
The sales growth came alongside added expenses. M&S put those costs at about £35 million, citing packaging taxes, pay, national insurance and disruption in the Middle East. The Independent reported that lingering product availability problems tied to the cyber incident continued to affect the fashion, home and beauty business, while hot summer weather partly weighed on store sales.
The attack occurred around Easter last year. M&S stopped taking website orders for roughly six weeks, and logistics problems left some stores with empty shelves, The Independent reported. The disruption therefore affected both online sales and the flow of goods to stores.
Chief Executive Stuart Machin said the fashion, home and beauty results had not reached their potential. He said M&S entered the second half after “a solid performance in October.”
