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.
162 Articles
162 Articles
Retail Giant Faces $403 Million Hit After Cyberattack Exposes Customer Data
British retail giant Marks & Spencer is bracing for losses exceeding $400 million following a severe cyberattack, which has disrupted its business and exposed sensitive customer data. What Happened: According to a note from the company, the cyberattack has taken a toll on M&S’s fiscal year 2025-2026 operating budget, with a projected $403 million dip in profits “before cost mitigation, insurance and trading actions.” In the statement, CEO Stuart…
A victim of a computer attack since mid-April, the British distribution chain has provided an initial estimate of its financial impact.
M&S cyber-attack: how to protect yourself from sim-swap fraud
Our mobile phone numbers have become a de facto form of identification, but they can be hijacked for nefarious purposes. Just such an attack may have been involved in the recent very damaging cyber-attack on Marks & Spencer (M&S). The hack happened in April and forced M&S to stop taking online orders. It also caused disruption to some of its stores. The company has said that its online business could be disrupted into July and could result in an…
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