Marks & Spencer Profits Plummet on Cyberattack

Marks & Spencer has reported a significant drop in profits, halving after a cyber attack that cost the company £101 million. This incident not only affected their online and in-store sales but also raises concerns about the security of retail operations in an increasingly digital world. The impact of such attacks can be far-reaching, affecting consumer trust and the overall market.

Marks & Spencer has reported a staggering 55% drop in its first-half profits, primarily due to disruptions caused by a recent cyberattack. This significant decline highlights the vulnerabilities that businesses face in today's digital landscape and underscores the importance of robust cybersecurity measures. The impact of such attacks not only affects financial performance but also consumer trust, making it a critical issue for retailers.

Marks & Spencer Group Plc is optimistic about its second-half profits, expecting them to bounce back to at least last year's levels. This positive outlook comes as the company recovers from a significant cyberattack that had been affecting sales since April. The rebound is crucial not only for the retailer's financial health but also for restoring consumer confidence in the brand.

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Marks & Spencer has reported a significant drop in profits, halving after a cyber attack that cost the company £101 million. This incident not only affected their online and in-store sales but also raises concerns about the security of retail operations in an increasingly digital world. The impact of such attacks can be far-reaching, affecting consumer trust and the overall market.

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