Marks & Spencer Bounce Back Online After Cyberattack
Marks & Spencer resumes online sales for select clothing following a 46-day cessation due to a cyberattack. This venerable British retailer forecasts a financial hit of £300 million in its 2025/26 fiscal year because of the attack, but aims to mitigate the impact via insurance and cost control.
Marks & Spencer, the iconic British retailer, has resumed online orders for certain clothing lines after a 46-day hiatus caused by a cyberattack. The company, which was founded 141 years ago, announced, "select fashion ranges now available to buy online" on its website.
The cyberattack, initially disclosed in April and stemming from a security breach involving a third-party contractor, had forced M&S to halt online transactions. The situation arose following disruptions during Easter, leading to issues with their contactless pay and collection services.
M&S projects the attack will result in a £300 million (£404 million) loss in operating profit for its 2025/26 fiscal period. However, the company plans to offset the financial blow through strategic insurance and cost management measures.
(With inputs from agencies.)
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