British retailer Marks & Spencer believes the instigator of the cyberattack which forced it to suspend online shopping for six weeks in April and May was a group called "DragonForce", chairman Archie Norman told lawmakers on Tuesday.
Most of the impact of the cyberattack which hit Marks & Spencer M&S in April will be behind it by August, Chief Executive Stuart Machin told shareholders at the retailer's annual general meeting on Tuesday.
Marks & Spencer has achieved a remarkable turnaround, posting record profits, reinstating dividends, and returning to the FTSE 100. MAKSY trades at a modest valuation despite strong business momentum, offering an attractive entry point for medium-term investors. Key catalysts include recovery from the cyberattack, aggressive store upgrades, and potential upside from Ocado and under-penetrated segments.
British retailer Marks & Spencer's CEO Stuart Machin saw his total pay package rise by 39% to 7.1 million pounds ($9.6 million) for the year ended March 2025, a filing showed on Monday.
British retailer Marks & Spencer's food business saw food sales increase 10.8% over the 12 weeks to May 17 year-on-year despite the fallout from a cyberattack last month denting availability, industry data showed on Thursday.
The M&S website was down in the early hours of this morning - hours after the retailer revealed it's facing a £300m hit to profits following last month's ransomware attack.
Several big British retailers have been in the news recently—but not for buoyant sales or new product launches. Firms like Marks & Spencer and Co-op have been hacked, affecting online sales and the range of products available in-store, and forcing them to apologize to customers and other stakeholders.
Marks & Spencer said hackers broke into its systems by tricking employees at a third-party contractor, skirting its digital defences to launch a cyberattack that will disrupt the British retailer for months.
British retailer Marks & Spencer said Wednesday that a recent cyberattack will wipe out more than one-third in its annual profits. The forecasted £300 million impact equates to 30.5% of the company's annual operating profit.
Marks and Spencer (M&S) has warned investors it is facing a £300m hit to trading profits as a result of last month's ransomware attack.
Marks & Spencer has delivered an impressive set of full-year results, but investors now face a conundrum. On one hand, the retailer has posted its highest profit in 15 years, grown market share across its core businesses, and strengthened its balance sheet.
The retailer paused online shopping and took on extra waste, logistics and stock management costs after the cyberattack in late April.