Marks and Spencer (GB:MKS)
LSE:MKS
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Earnings Data
Report Date
Nov 11, 2026TBA (Confirmed)
Period Ending
2027 (Q2)Consensus EPS Forecast
0.14Last Year’s EPS
0.06Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a cautiously optimistic tone. Strong performance and momentum in Food (7% sales growth, market share gains to 4.1% and GBP 1bn M&S-on-Ocado milestone), maintained net funds and positive operating cash flow are clear positives. The business is reinvesting heavily (GBP 650-750m planned) into stores, supply chain and D&T with concrete capacity additions (1.7m sq ft food DC space, Lichfield fashion DC) that should support medium-term margin and service improvement (material benefits expected from FY'28). However, significant short-term challenges remain: Fashion, Home & Beauty is down materially for the year (FHB -7.7%, online -18.4%), international sales are weaker, margins — particularly in everyday food items — are under pressure, and the group faces meaningful tax, regulatory and inflationary headwinds that compress near-term profitability. Given the substantive positive operational wins in food, progress on transformation, and a generally constructive outlook from management that profits should grow versus two years ago, the highlights marginally outweigh the lowlights.Company Guidance
Group sales growth (reported and organic)
Total group sales: GBP 17.4bn, up 20% year-on-year driven by Ocado Retail consolidation; excluding Ocado Retail sales: GBP 14.2bn, up 1.9% versus prior year.
Adjusted profit before tax and one-off insurance receipt
M&S Group adjusted profit before tax: GBP 671.4m, which includes GBP 100m of cyber insurance proceeds received during the period (one-off benefit).
Positive operating cashflow and net funds position
Free cash flow from operations: inflow of GBP 131.3m. Despite disruption and reduced profit/cash generation, the group maintained a strong net funds position (excluding lease liabilities).
Food business outperformance
Food sales grew 7% with volume up 3.5%; M&S food market share rose to 4.1% (4.6% including M&S on Ocado). Served 800,000 more food customers (biggest gain of any supermarket) and claims highest-ever quality perception scores after >1,000 product upgrades.
M&S on Ocado milestone
M&S sales on Ocado up 17% and reached GBP 1.0bn for the first time; Ocado Retail delivered a small profit for the year, supporting the omnichannel food strategy.
Product innovation and value initiatives
Launched ~1,500 new food products and a successful minimal-ingredients range; strong value push with price index vs main supermarkets at its best; >50% of spring/summer fashion priced at GBP 30 or under; sold 1.8m GBP 10 bras.
Store and supply-chain investment progress
Opened 12 new and 18 renewed food stores (average payback <5 years); plan to open 18 more larger/fresher food stores this year; signed two new food DCs (Avonmouth, Daventry) adding ~1.7m sq ft; acquired 437,000 sq ft automated fashion DC in Lichfield (GBP 67.5m + ~GBP 20m automation).
Improving availability and customer metrics in FHB
Availability improved to the high 80s; stock cover approx. 15 weeks and Q4 saw both store and online growth in Fashion, Home & Beauty, with signs of returning full-price sales to ~80%.
Clear reinvest-for-growth capital plan
Planned capital investment (net of disposals) of GBP 650-750m for the year, focused on stores, supply chain and digital & technology with stated investment hurdles (e.g., D&T and growth investments targeted at ~20% IRR / ~4-year payback for certain projects).
Customer reach and brand trust
Served 34 million customers (highest number ever) and retained status as the U.K.'s most trusted brand per YouGov; fashion attracting younger customers with a 16% increase in customers under age 30.
GB:MKS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GB:MKS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 20, 2026 | 326.80 p | 348.50 p | +6.64% |
Nov 05, 2025 | 383.16 p | 383.66 p | +0.13% |
May 21, 2025 | 363.82 p | 370.85 p | +1.93% |
Nov 06, 2024 | 378.57 p | 393.08 p | +3.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Marks and Spencer (GB:MKS) report earnings?
Marks and Spencer (GB:MKS) is schdueled to report earning on Nov 11, 2026, TBA (Confirmed).
What is Marks and Spencer (GB:MKS) earnings time?
Marks and Spencer (GB:MKS) earnings time is at Nov 11, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Marks and Spencer stock?
The P/E ratio of Marks and Spencer is N/A.
What is GB:MKS EPS forecast?
GB:MKS EPS forecast for the fiscal quarter 2027 (Q2) is 0.14.