UK's M&S flags $402 mn cyber-attack hit, eyes recovery in H2

The group generated a statutory revenue of £13.82 billion (~$17.59 billion) for full fiscal 2024-25 (FY24-25) ended March 29, 2025, up 6 per cent year-over-year (YoY). Total sales rose 6.1 per cent to £13.91 billion.

The operating profit before adjusting items grew 17.4 per cent to £984.5 million, while profit before tax and adjusting items increased 22.2 per cent to £875.5 million. The profit after tax (PAT) declined by 31.3 per cent to £291.9 million. Basic earnings per share (EPS) fell 33.3 per cent to 14.6 pence, though adjusted basic EPS rose 29.7 per cent to 31.9 pence.

Fashion, home and beauty sales rose by 3.5 per cent YoY, with like-for-like (LFL) sales up 4.4 per cent to £4.2 billion. After removing the impact of exiting the furniture category in 2024, overall sales grew by 4.7 per cent. The market shares also rose by 0.57 percentage points to 10.5 per cent.

The company’s international constant currency sales declined by 7.1 per cent to £0.7 billion in the full fiscal. The adjusted operating profit for the international segment stood at £46.3 million.

Its online sales accounted for 34 per cent of total sales, supported by a 9 per cent increase in active customers to 10.2 million. The shift in marketing focus towards brand and social channels contributed to this growth. Enhancements such as improved imagery, better navigation, and expanded availability in smaller sizes further strengthened the online offering, Marks & Spencer said in a press release.

Partner brand fashion sales online surged by 42 per cent, with recent top-tier additions including Hush, Tommy Hilfiger, and Calvin Klein. The overall brands business surpassed £200 million in sales for the first time in FY24-25.

The company acknowledged that more progress is needed in planning, product range, in-store integration, delivery, and fulfilment to reach its medium-term goal of online contributing 50 per cent of fashion, home and beauty sales.

In fashion, home and beauty, the company plans to open two full line flagship stores in 2025-26—Bath and Bristol Cabot Circus—building on the success of recent openings, added the release.

Fibre2Fashion News Desk (SG)