Marks & Spencer cuts meat prices by up to 26 percent: what it means for Marks & Spencer stock

Published on 10/25/2026 at 12:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Meat prices fall to GBP 6.00 from GBP 7.00 at M&S. UBS raised its target to GBp 465 from GBp 425 for Marks & Spencer stock on October 14, 2026.

Retail value meets margin test

On October 23, 2026, M&S cut selected meat prices by up to 26 percent while keeping farmer payments unchanged.
Fiscal year 2025/26 sales were GBP 14.2 billion and adjusted profit before tax was GBP 671.4 million.
UBS raised its target to GBp 465 from GBp 425 on October 14, 2026.

Geometrisches Bauhaus-Poster mit bunten Formen und dem Wort RETAIL — Bauhaus-Poster mit Sektor-Schriftzug RETAIL repräsentiert Marks and Spencer Group plc, ISIN GB0031215220, im Retro-Design, Illustration mit AI erstellt.

Marks & Spencer (ISIN GB0031274896) is cutting selected British beef, lamb and pork prices by up to 26 percent as it prepares for the crucial holiday sales period. In a release dated October 23, 2026, Marks & Spencer said the investment would not reduce payments to farmers.

Value reaches the shelf

The company is moving diced British beef from GBP 7.00 to GBP 6.00, lamb mince from GBP 6.20 to GBP 5.60 and British pork sausages from GBP 2.60 to GBP 2.00. Marks & Spencer said the products remain unchanged and that its long-term supplier partnerships will continue.

The move gives the food division a clear customer-facing value message, but it also places attention on the cost of defending market share. Marks & Spencer reported fiscal year 2025/26 group sales of GBP 14.2 billion, adjusted profit before tax of GBP 671.4 million and operating free cash flow of GBP 131.3 million on its investor page.

What does 26 percent mean for margins?

Analyst expectations point to online profitability as the next test. Yahoo Finance reported on October 14, 2026, that UBS raised its target from GBp 425 to GBp 465 and expected online margins in fashion, home and beauty to reach 10.7 percent by fiscal year 2029. UBS also expected half-year pretax profit of GBP 388 million against consensus of GBP 398 million.

Three steps before results

On October 8, 2026, Marks & Spencer announced plans to recruit 11,000 seasonal colleagues, according to its company release. On October 14, 2026, UBS lifted its target from GBp 425 to GBp 465, as Yahoo Finance reported. On October 23, 2026, Marks & Spencer announced meat price reductions of up to 26 percent in its food business.

Next date is November 4

The next major company date is November 4, 2026, when Marks & Spencer is due to publish its half-year results, according to Yahoo Finance. The report will show whether stronger food and fashion activity can offset the margin pressure implied by the latest value investment.

London price stays a reference

On the LSE, Marks & Spencer stock was last at GBp 416.40 on October 23, 2026 at 4:35 p.m. London time. The 52-week range was GBp 301.10 to GBp 429.40, leaving the stock below its recent high while the company approaches its half-year report.

The further course of trading is shown by the continuously updated real-time quote of Marks & Spencer stock.