M&S says cyberattack to cost $400 million

A “highly sophisticated and targeted” cyberattack will cost Marks & Spencer about 300 million pounds ($403 million) in lost operating profit, and disruption to online services is likely until July, the British retailer said on Wednesday.

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The attack on one of the biggest names on the British high street forced M&S to resort to pen and paper to move billions of pounds of fresh food, drinks and clothing after it switched off its automated stock system.

That led to bare food shelves and frustrated customers.