Marks and Spencer Group plc (MKS) Earnings Call Transcripts

Marks and Spencer Group plc's Latest Earnings Call - May 20, 2026

Marks and Spencer Group plc reported a strong set of results for the fiscal year ending March 2026, with total group sales reaching GBP 17.4 billion, up 20% year-over-year, primarily driven by the consolidation of Ocado Retail. Adjusted profit before tax was GBP 671.4 million, bolstered by GBP 100 million in cyber insurance proceeds. Management maintained a positive outlook, signaling a commitment to reinvest between GBP 650 million and GBP 750 million in capital for growth, despite ongoing inflationary pressures and market challenges.

Reported metrics

Guidance from management

Management expects profit growth to resume compared to fiscal 2025, indicating a mid-single-digit growth outlook. They plan to continue investing significantly in growth initiatives.

What management said

Good morning, everybody, and welcome to our results session. It's a very good day today because we've got a decent set of results and excellent weather coming for the bank holiday weekend. And so we got here in this room, obviously, Stuart, Alison is here, Fraser and a whole lot of other people who don't get to say anything. But we're going to start off with Stuart's usual opening.

Thank you, Stuart. Okay. Well, we've got about 35 minutes for questions. And so we'll try and get through them as fast as we can. [Operator Instructions] I think we should start with Izabel Dobreva from Morgan Stanley because Izabel, I understand that this is our first week back from leave and that we should be congratulating you on the birth of your son Matteo. So many congratulations. And please ask the first quest...

What analysts pressed on

Analysts expressed concerns about the declining performance in the Fashion, Home and Beauty segment, particularly the significant drop in online sales. There were also questions regarding the impact of inflation on consumer behavior and the company's ability to maintain margins amidst rising costs.

Main topics on the call

• Sales Growth — Total group sales increased to GBP 17.4 billion, a 20% rise, with core sales (excluding Ocado) at GBP 14.2 billion, up 1.9% year-over-year. Management noted, 'We served 34 million customers last year, our highest number ...
• Profit Performance — Adjusted profit before tax was GBP 671.4 million, which included GBP 100 million from cyber insurance. Management emphasized strong profit conversion and disciplined debt management despite a challenging year.
• Food Business Success — Food sales grew by 7%, with market share increasing to 4.1%. Management stated, 'We constantly outperformed the market,' indicating a strong competitive position.
• Fashion Challenges — Fashion, Home and Beauty sales declined by 7.7%, with online sales down 18.4%. Management acknowledged, 'We will always remain a broad church,' indicating a strategy to attract a younger demographic while retaining core ...

Read the full Marks and Spencer Group plc transcript (May 20, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 42 Marks and Spencer Group plc earnings call transcripts on record, spanning January 9, 2020 to May 20, 2026. Based on this history, Marks and Spencer Group plc reports quarterly. The most recent call on file is dated May 20, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MKS

Exchange

LSE

Country

GB

Sector

Consumer Staples

Industry

Consumer Staples Distribution and Retail

Calls on record

42

First call

January 9, 2020

Most recent

May 20, 2026

Reporting cadence

quarterly