London, June 12, 2026, 11:05 BST
- Marks & Spencer Group plc was up about 3.6% at 374p in late-morning London trade, beating a stronger FTSE 100.
- Marks & Spencer talked up new price cuts on food staples and pointed to a bigger store at Tottenham Court Road in its latest update.
- Investors are trying to balance M&S’s rebound from last year’s cyber attack with gains in its food business, spending on stores, and margin squeezes.
Marks and Spencer Group plc shares gained Friday, up 3.57% at 374.20p by 10:45 BST, with 8.32 million shares traded as the FTSE 100 retailer caught a lift from a broader London rally and renewed focus on food-value and store-growth plans. Barclays’ research showed a sell price of 374.00p and a buy price of 374.30p at 10:48 BST. The FTSE 100 gained 1.28%.
M&S acted two days after saying it put more than £30 million into cutting prices on over 65 food staples. Items include salmon, beef mince, eggs, ketchup, wraps, onions and frozen fries. The retailer said these cuts boost its Remarksable Value range to 145 products, now benchmarked against rivals. M&S is trying for more basket share but still wants to keep its quality tag.
Alex Freudmann, managing director at M&S Food, called the cuts “another step on our transformation journey as we reinvest for growth.” This matters for investors since M&S aims to double its food business. Price perception remains a key test for a retailer that’s long been seen as more premium than mainstream grocers. Marks & Spencer
Store investment drew attention after M&S opened a bigger Tottenham Court Road shop in London on June 10. The 10,600 sq ft site is closer to the Underground, and features an in-store bakery, coffee bar and sushi counter. M&S said it’s one of four new London stores on the schedule for this financial year. Six more stores are set to be revamped. The company expects all the changes will lead to over 150 new jobs.
Marks & Spencer is still dealing with the effects of a cyberattack that hit online clothing orders for seven weeks and its click-and-collect for nearly four weeks. Reuters said in May that adjusted profit before tax dropped to £671.4 million for the year to March 28, down from £881.1 million the year before, with £131.3 million in cyber-related costs. Food sales climbed 7.0%, but fashion, home, and beauty fell 7.7%. CEO Stuart Machin said, “We were laser focused on our customers,” as M&S tried to manage the fallout. Reuters
M&S has brought back its dividend, offering a 3.0p final payout for 2025/26. The dividend, pending shareholder approval, is set to be paid on July 10 to holders registered by the end of June 5. Shares traded ex-dividend on June 4.
The stock trades stronger now than during the cyber issue, but risks remain. Investors Chronicle analyst data, as of June 4, showed six “buy”, 10 “outperform”, and two “hold” ratings out of the group, with no “sell”. The 12-month median target sits at 439.50p, above a recent 361.30p price. That points to some optimism for a rebound, though bulls are watching whether M&S can keep up food gains, get fashion and home back on track, and deal with higher fuel, freight, tax and regulatory bills flagged by the company. Investors Chronicle
