Retailer Hit Hard by Cyber Attack, Plans Cost-Cutting Measures
Update: 2025-11-05
Description
Major Cyber Attack Devastates Retailer's Profits: A well-known retailer suffers a significant blow due to a hacking group's attack, leading to a sharp decline in profits, empty shelves, and online sales halt. The company estimates the attack will cost around £136 million, but insurance coverage helps mitigate the impact. Despite the setback, the retailer plans to cut costs and aims to match last year's profits in the second half of the financial year.
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