Marks and Spencer: Initiation of Coverage – Can Its Investments in Digital & Technology (D&T) Help Sustain Growth? 

Marks and Spencer Group’s (M&S) recent performance provides a mixed but cautiously optimistic outlook for the company’s future, in line with their transformation efforts and strategic improvements. The company’s profit before tax and adjusting items rose 17% to GBP 407.8 million, highlighting robust financial performance. The business has successfully increased customer engagement, with rolling 12-month customer numbers reaching 32.5 million, fueled by continued investment in quality, value, and innovation, particularly in food and clothing segments. However, there are areas marked for improvement, particularly in international operations and store rotation plans.