London, Jan 20, 2026, 09:46 GMT — Regular session
Marks and Spencer Group plc shares slipped slightly on Tuesday following a Sky News report that chief technology officer Josie Smith is set to resign, bringing renewed focus to the retailer’s tech revamp. By mid-morning in London, the stock had dipped 0.1% to 360.9 pence.
Sky revealed Smith’s exit in an internal memo, naming Darren Gibson, director of technology transformation for fashion, home, and beauty, as her successor. An M&S spokeswoman confirmed the memo’s details.
The timing is key as M&S works to reassure investors that its systems and operations have stabilized. A senior tech departure, even with a named replacement, often reignites doubts about execution risk.
London shares stumbled on Monday after U.S. President Donald Trump threatened tariffs on Britain and other European nations, rattling the market and dragging FTSE indexes down. Retail and consumer stocks took a hit as investors pulled back following the news.
M&S ended Monday at 361.4 pence, slipping 1.47%. Early Tuesday trading showed little movement after the stock briefly touched 359.3 pence, according to market data.
The cyberattack that hit M&S last year still looms large for investors watching the company’s recovery. Back in November, M&S projected a full rebound from the April hack by March 2026. It had earlier put the cost of the breach at around 300 million pounds in lost operating profit for the year. Analysts at Investec weighed in then, saying, “We expect news flow to continue to improve.” Reuters
Marks & Spencer’s latest trading update, released earlier this month, showed Food sales climbing 6.6% over the 13 weeks ending Dec. 27. Like-for-like growth, which excludes new openings and closures, rose 5.6%. On the other hand, Fashion, Home & Beauty sales dropped 2.5%, with like-for-like sales down 2.9%. CEO Stuart Machin noted, “A record number of customers shopped M&S this Christmas.” Marks Spencer
Traders remain alert for any new remarks from the company about the handover and potential senior exits. Signs of increased tech spending, setbacks, or fresh disruptions would probably hit the stock price fast.
Yet the implications cut both ways. Smooth handovers and stable trading might shift attention back to margins and cash flow. Still, the broader market stays jittery over tariffs and their potential hit on demand and input costs throughout the UK economy.
Investors are gearing up for M&S’s full-year results on May 20. They’re looking for updates on the recovery push, expenses from last year’s disruptions, and the 2026 outlook.
