M&S Profit Recovers After Cyber Attack, Clothing Sales Under Pressure

Marks & Spencer (M&S) recorded a recovery in profit following a cyber attack. According to a Reuters report, the company's profitability has resumed its upward trend; however, weak performance in the clothing segment is slowing the recovery process. The company's financial results show that the negative effects of the cyber attack are behind it and profit is again on an upward trajectory. Nevertheless, sales in the clothing category failing to gain the expected momentum stands out as the main factor limiting the pace of recovery. The report notes that weakness in clothing continues to weigh on the company's overall performance. It states that despite the recovery in M&S's profit, the clothing division is slowing the recovery process. As the company emerges from the effects of the cyber attack, profitability has improved, while the clothing segment is highlighted as an offsetting factor to this improvement. Not investment advice.

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The news headline concerns the British retailer M&S and is not directly related to GOOGL's fundamentals; therefore, its impact on the stock should be limited and indirect. The technical picture is weak: the price is below the SMA20 and SMA50, the MACD is in negative territory, and the RSI at 36 confirms weak momentum. Although the 24-hour change is slightly negative, proximity to oversold territory increases the likelihood of a short-term rebound. Since the news has no direct effect on GOOGL, the direction is uncertain; the current technical trend is slightly downward. In the short term, SMA20 resistance around 280 and the 275-278 support band should be monitored.

RSI 14

36.1

MACD

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24h Δ

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