London, Jan 17, 2026, 09:28 GMT — Market closed.
- Marks & Spencer shares closed Friday up 0.9% at 366.8p.
- The stock rose about 4% over the week, keeping the retailer in focus after its Christmas update.
- UK inflation data is due Jan. 21 and retail sales on Jan. 23; M&S is scheduled to publish full-year results on May 20.
Marks & Spencer Group (MKS.L) shares closed up 0.9% on Friday at 366.8 pence, with London markets shut over the weekend. About 25 million shares changed hands, and the stock sits about 12% below its 52-week high of 417.8p. 1
The rise capped a week in which the shares gained about 4%, after a choppy start to January. Investors have treated M&S as a quick gauge of the British consumer: food has held up, while discretionary spend looks less dependable. 2
Next week brings two data points that can move rate expectations fast: December inflation figures on Jan. 21 and the retail-sales report on Jan. 23. The Bank of England’s next Bank Rate decision follows on Feb. 5. 3
In a Christmas trading statement on Jan. 8, M&S said underlying food sales rose 6.6% in the 13 weeks to Dec. 27, while like-for-like food sales — stripping out the effect of store openings and closures — grew 5.6%. Fashion, Home & Beauty sales fell 2.5% on an underlying basis, and the group kept its full-year guidance unchanged; chief executive Stuart Machin said “Food sales were strong”. 4
Broker notes have helped shape the tone. Berenberg upgraded M&S to “buy” and lifted its target price to 415 pence, saying the valuation looked “relatively attractive” after the shares de-rated; it also pointed to a lower forward price-to-earnings ratio, a measure based on expected profits. 5
Sector read-throughs have been mixed. Early January updates showed shoppers prioritising festive food while holding back on clothing and gifts: Tesco talked up grocery demand, Primark owner Associated British Foods called the clothing market “difficult”, and Next warned growth would slow into 2026. Tesco chief executive Ken Murphy said some consumers were “counting every penny”. 6
The wider FTSE 100 was subdued on Friday after hitting a record the day before, with weaker metal prices weighing on miners while defence stocks outperformed, Reuters reported. Retail shares have tended to swing more with the rates story than with commodities. 7
But clothing remains the swing factor for M&S. AJ Bell’s head of markets Dan Coatsworth said the group had “gone back to its old days, where strong food sales offset weak clothing”, and flagged heavier discounting to clear stock; the company is still working through the tail end of disruption from last year’s cyber hack. 8
For M&S, the next scheduled milestone on the company calendar is its full-year results on May 20, when investors will look for a clearer read on margins and whether fashion demand is stabilising. 9
