Cyber-attack cost Marks & Spencer £300m in lost sales, company results reveal
- British retailer Marks & Spencer reported that a cyberattack will cost the company £300 million in annual profits.
- The cyberattack occurred over the Easter holiday, disrupting food sales and online retail.
- Marks & Spencer experienced a loss of over £1 billion in stock market value due to the attack, which is expected to impact operations into July.
- Chief Executive Stuart Machin stated that the company is focused on recovery and restoring its systems and operations.
135 Articles
135 Articles
Easter Cyberattack Will Cost British Retailer Marks & Spencer $400 Million
British retailer Marks & Spencer said the Easter holiday cyberattack that disrupted operations could eliminate about one-third of its annual profits. In its May 21 first-quarter earnings report, the UK online retail giant projects that the incident will cost the business more than $400 million in operating profit for 2025 and 2026. M&S plans to reduce the financial impact through cost mitigation, insurance, and trading actions. “Over the last fe…
Cyberattack costs UK retailer Marks&Spencer £300 million
LONDON, United Kingdom — British clothes-to-food retailer Marks and Spencer on Wednesday said a cyberattack disrupting its online service is set to last through to July and hit group profit by around £300 million ($404 million). Marks last week revealed that some personal data of its customers had been stolen in a cyberattack that has
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