Tag: $Marks And Spencer

British retailer Marks & Spencer said Wednesday that a recent cyberattack, which left food shelves bare and brought online sales to a standstill, will wipe out almost one-third in its annual profits.

Marks and Spencer is braced for an annual hit of £40mn from sustainability taxes, laying bare the mounting costs UK retailers face beyond those arising from Labour’s October Budget. 

Retail giant Marks and Spencer (M&S) on Thursday announced that its 13-week group sales during Christmas trading increased 5.6% from the previous year to £4.06 billion ($4.9 billion) with growth in Britain and the Republic of Ireland.

Marks & Spencer (M&S) smashed forecasts with a 58% rise in annual profit on Wednesday and announced its first yearly dividend since 2019, suggesting the British retailer may finally have found a recipe for revival after two decades of trying

British retailer Marks & Spencer  on Thursday reported a better-than-expected 8.1% rise in sales over the Christmas trading period, driven by market-leading growth in food and a strong performance in womenswear.

Two of Britain’s biggest retailers recorded bumper grocery sales over Christmas as inflation-hit consumers focused their spending on food rather than gifts.

LONDON, Oct 16 (Reuters) – British clothing and food retailer Marks & Spencer said on Monday it plans to recruit 10,000 temporary workers for the Christmas season, a more than 40% increase on last year.

British supermarket Marks and Spencer  said on Tuesday it expected profit growth for the year 2022-2023, with interim results likely to significantly improve against previous expectations.

Marks & Spencer said its latest turnaround strategy was starting to deliver, enabling it to restore its dividend and forecast “modest” revenue growth and a profit outcome ahead of market expectations this year, sending its shares 13% higher.