M&S Accelerates Turnaround Plan to Recover from Cyberattack

Marks & Spencer Plc said it is accelerating its turnaround plan and maintained its profit guidance as the British retailer seeks to recover from last April’s cyberattack.

Comparable food sales rose 5.6% in the quarter ended Dec. 27, M&S said Thursday, missing analyst estimates but giving what the company said was its highest ever share of the UK grocery market. Sales of clothing and homeware fell 2.9% as the retailer said it is still getting back on track after the disruption.