Marks & Spencer's Cyberattack: £324M Loss & Customer Data Theft
Update: 2025-11-05
Description
Marks and Spencer suffers a massive cyberattack, leading to a 55.4% drop in profits and a 40% collapse in online sales. The attack, caused by human error, results in £324 million in lost sales, but they recover £100 million through insurance. The fashion sector is hit hardest, with a 16.4% overall sales decrease and a 42.9% drop in online fashion sales. The attack also leads to customer data theft. Despite resuming deliveries and improving online sales, the recovery in fashion, home, and beauty sectors is slow, potentially due to customers switching to rival retailers. Other British retailers like Harrods and the Co-op have also been targeted, and the UK's National Cyber Security Centre warns of accelerating cyber threats due to generative AI.
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