Marks & Spencer stock: Dividend doubles as growth targets rise

Published on 11/15/2026 at 13:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Marks & Spencer stock is tied to a plan to double the 2026/27 dividend. The retailer targets mid-to-high single-digit sales growth and faster profit growth.

Growth plans and shareholder returns

Marks & Spencer targets mid-to-high single-digit sales growth over the medium term, with profit growth ahead of sales.
The Food business aims to double sales over time and reach an operating margin of around 5 percent.
Fashion, Home & Beauty targets online participation near 50 percent and operating margins above 10 percent in both channels.
The group remains on track for GBP 600 million in structural cost savings by fiscal 2028.

Marks & Spencer, GB0031274896, Illustration mit AI erstellt.

On November 10, Marks & Spencer Group set out medium-term growth ambitions at its Capital Markets Day. The company is targeting mid-to-high single-digit sales growth, with profit growth ahead of sales, according to its Capital Markets Day release.

Food and fashion set growth goals

M&S aims to double Food sales over time after annual sales increased by more than 50 percent since fiscal 2022. The division is targeting an operating margin of around 5 percent.

Fashion, Home & Beauty is targeting online participation of nearly 50 percent alongside a network of 180 highly productive stores. The division aims for operating margins above 10 percent in both stores and online.

Dividend policy changes

The full-year 2026/27 dividend is planned to double to 8.4 pence per share from 4.2 pence. After that, Marks & Spencer intends to increase dividends at least in line with earnings over time.

The group also expects free cash flow in each of the next three years and says it remains on track to deliver GBP 600 million in structural cost savings by fiscal 2028. Management said the balance sheet had returned to investment-grade status and that maintaining financial strength remains a priority.