M&S warns cyber attack disruption will last months and will wipe £300million off profits

M&S still struggling with IT issues following cyberattack - Retail Gazette

M&S is still grappling with the fallout from its cyberattack in April, with several of its internal IT systems yet to fully recover. It is understood that the retailer’s buying and merchandising teams are still working with faulty internal systems, Retail Week reported. M&S said its customer facing systems are now up and running following the relaunch of its click and collect service at the start of the week. The retailer was hit by a cyber atta…

M&S warns cyber attack disruption will last months and will wipe £300million off profits

Marks and Spencer has warned the cyber attack which has paralysed its online sales for a month could wipe around £300million off its annual profits and last until July. The huge hit – which is before factoring in what it may get back through insurance – does not include the blow to takings. In its first update on timings, M&S says it expects online clothing and homewares sales to continue to be impacted throughout June and into July as it restar…