Fashion
M&S fashion sales dip as cyberattack ‘long tail’ weighs, but it wins back market share
Published
January 8, 2026
M&S’s Golden Quarter was “solid”, the retail giant said on Thursday with the 13 weeks to 27 December seeing a record number of people shopping at the stores and online.
The period is the third quarter of the firm’s financial year and total sales were £4.993 billion. That was a big year-on-year leap due to the inclusion of the food-focused Ocado Retail operation this time. But excluding this, sales rose 3.3% to £4.15 billion.
Unfortunately, in Fashion, Home & Beauty specifically, sales of £1.73 billion were down 2.5% in total and 2.9% like-for-like. However, International sales rose 0.9% to £158 million.
The company said the Fashion, Home & Beauty performance came as online sales growth was offset by a store sales decline. This reflected reduced high street footfall, “and the long tail impact on stock data and management following the [cyberattack] earlier in the year. Stock into Sale during December was higher than last year but sell-through rates have been strong”.
It added that in total UK fashion, it “regained market share leadership in the period and now holds the number one position for customer perceptions of style, quality and value. New season product is resonating with customers and new stores such as Bristol Cabot Circus are exceeding expectations, demonstrating the benefits of the store rotation strategy”.
As for the International numbers, the company said the small uplift came as “new wholesale agreements, online growth and Food franchise offset Fashion, Home & Beauty shipment phasing and India performance”.
CEO Stuart Machin said: “Millions more trusted M&S to deliver the family Christmas. Food sales were strong and the business continues to outperform, hitting a new market share milestone in the period.
“Fashion, Home & Beauty is getting back on track as we work through the tail end of recovery. Sales overall were slightly down but online performance continued to improve as digital sales recovered. We planned a bigger Sale this year, with strong sell-through already making way for our new-season lines.
“We enter this new calendar year full of ambition and laser focused on our plan to reshape M&S for further growth. In Fashion, our new season ranges are resonating well with customers as we double down on value, quality and style.”
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Nominal GDP, or GDP at current prices, is estimated to grow at 8.6 per cent to reach ₹345.47 trillion in FY26 against ₹318.07 trillion in 2024-25.
India’s real GDP is estimated to grow at 7.6 per cent to ₹322.58 trillion (~$3.54 billion) in FY26 compared to the first revised GDP estimate of ₹299.89 trillion for FY25 (7.1 per cent growth).
It released the new series of annual and quarterly national accounts estimates with FY23 base.
Real GVA is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25.
Real gross value added (GVA) is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25 (a 7.3-per cent growth rate).
Nominal GVA is estimated to grow at 8.7 per cent to hit ₹313.61 trillion during FY26, against ₹288.54 lakh crore in 2024-25.
Robust economic performance in FY26 is primarily on account of robust real growth observed in the second quarter (8.4 per cent) and third quarter (7.8 per cent).
The manufacturing sector has been the major driver of resilient performance of the economy the consecutive three fiscals after rebasing, a release from the ministry said.
Both private final consumption expenditure and grossed fixed capital formation exhibited more than 7-per cent growth rate in FY26.
Fibre2Fashion News Desk (DS)
The transition marks the formal handover of executive leadership to President and CEO Keun-Chang (Kevin) Yoon, reinforcing management continuity while preserving the founder’s long-term strategic vision.
Misto Holdings founder Gene Yoon has transitioned to honorary chairman in a planned leadership succession, formally handing executive control to president and CEO Kevin Yoon.
The founder, who expanded the group through the FILA global trademark acquisition and the takeover of Acushnet, will continue guiding long-term strategy as the rebranded Misto focuses on governance and sustainable growth.
Gene Yoon founded the business that would become Misto Holdings in the early 1990s, introducing the FILA brand to the Korean market and later leading a series of transformative transactions. In 2007, the company acquired the global FILA trademark rights through a leveraged buyout, followed by the 2011 acquisition of Acushnet Company, owner of the Titleist and FootJoy brands. The transaction was among the largest cross-border deals in Korea’s consumer sector at the time and significantly expanded the group’s global footprint.
Under his leadership, the company evolved into a multi-brand global portfolio spanning sportswear, golf equipment and apparel, generating approximately USD 3.08 billion in annual revenue.
As Honorary Chairman, Gene Yoon will remain closely engaged with the company, providing guidance on long-term strategy and global portfolio development while supporting management from a broader strategic perspective.
The leadership transition marks a new chapter under President and CEO Kevin Yoon, who has spent nearly two decades in senior roles across the group’s global operations, building deep operational and strategic expertise.
The company’s 2025 rebranding to “Misto” underscores its evolution into a global brand house focused on disciplined capital allocation, enhanced shareholder returns and sustainable long-term growth.
“Building on the founder’s legacy, our priority is to expand our global portfolio, strengthen governance and deliver sustainable value creation,” said Kevin Yoon, President and CEO of Misto Holdings.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
India’s real GDP estimated to grow 7.6% in FY26 under new base FY23
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South Korea’s Misto Holdings completes planned leadership transition
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