PREVIEW

M&S Online Services Disruption Expected to Continue Until July Following Cyber-Attack. Marks & Spencer (M&S) has warned customers that online services will remain disrupted until July following a cyber-attack last month. Online ordering has been unavailable for nearly a month, and M&S anticipates ongoing issues through June and into July as operations ramp up. The cyber-attack is expected to cost M&S around £300m, which is a 30% hit to the company’s projected profits for the year. CEO Stuart Machin described the attack as highly sophisticated and targeted, causing significant disruption since Easter weekend. Initially, the attack affected click-and-collect services and contactless payments before completely halting online ordering a few days later. The ransomware attack is believed to be the work of a cyber-crime collective called Scattered Spider, using tools from the DragonForce service. M&S has suffered the largest impact from this group, which has also targeted Co-op and Harrods, but M&S has seen the most significant disruption. Despite the setback, Machin remains confident that M&S will emerge stronger and continue its ongoing turnaround strategy started in 2022. The cyber-attack has caused additional challenges for M&S, including reduced food sales, online fashion and beauty losses, and higher logistical costs. While insurance will cover part of the costs, further financial impacts may include fines, litigation, and future measures to prevent similar attacks.
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