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Cyber-attack will cost M&S £300m and last until summer
The Observer
|May 25, 2025
Marks & Spencer said a "highly sophisticated and targeted cyber-attack" would cost it about £300m in lost profits, with disruption expected to continue until July. The damage was extensive, but not existential.
The company’s share price has tumbled by 8%. In April, it posted increased sales and profits, building on several years of steady growth, and customers are sticking with the 141-year-old brand. Its chief executive told the Financial Times the attack was just “a bump in the road”.
Other retailers have also been hit by ransomware attacks in recent weeks, including the Co-op and Harrods. So far, “the market seems to have absorbed it”, said Tom Hurd, a security expert and founder of research firm Zeki.
Diese Geschichte stammt aus der May 25, 2025-Ausgabe von The Observer.
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