22 May 06:07
The cyber attack on Marks & Spencer will cut annual operating profit by almost a third, with losses estimated at £300m
Ana-Maria Tapescu
International
Foto: shutterstock.com
British retailer Marks & Spencer has announced that a complex cyber attack will affect its annual operating profit by almost 30%, or £300 million, in the fiscal year 2025/2026. The attack resulted in empty shelves and blocked online sales, and the impact will continue through July. CEO Stuart Machin said M&S will accelerate its technology transformation, with the incident caused by "human error".
Sources
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