Marks and Spencer Group PLC (LSE:MKS) is on the receiving end of a bullish write-up ahead of a busy few weeks of investor comms for the British retailer.
JP Morgan repeated an 'overweight' rating, ahead of the retailer’s half-year results due on 5 November and a Capital Markets Day on 11 November.
The group appears largely back to business as usual following the April cyberattack, analyst Georgina Johanan said, highlighting the vast majority of systems relaunched and the online business trading again.
Citing Worldpanel and Nielsen data, the analyst said engagement has remained firm in the Food division, with shopper numbers up around 12% year-on-year, whilst web and app traffic in Fashion, Home & Beauty is also seen back into positive territory.
JP Morgan said M&S has benefited from targeted Sparks promotions and ongoing customer marketing.
Core drivers behind recent share gains in clothing remain intact, the broker added.