Marks & Spencer is set to provide an update this week on its progress in recovering from a major cyberattack earlier this year, and on how it is performing amid a backdrop of weakened consumer confidence.

The company’s shares remain at close to nine-year highs, despite disruption caused by the Easter weekend hack that affected parts of its operations for several months.

Investors will be watching closely for details on some of the potential remaining costs tied to the incident, which include the extent of any cyber-insurance claims as well as how much the retailer is now investing in technology and security infrastructure to prevent a repeat event in the future.

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M&S chief executive Stuart Machin has previously said the cyberattack could result in a £300 million hit to profits for the financial year culminating in March next year.

This week’s update is also expected to shed further light on consumer spending trends, as M&S faces a climate of caution among shoppers.

Analysts say the upcoming Budget later this month could further weigh on sentiment, prompting households to tighten their budgets.

Despite those headwinds, M&S’s strong share performance undoubtedly underscores investor confidence in its ongoing turnaround strategy and resilience in a particularly challenging retail environment.