Financial MarketsMarks & SpencerUpdated 6 days ago

Marks & Spencer Reports 55% Profit Drop Due to Cyber Attack

Marks & Spencer has revealed a 55% decline in first-half profits, largely attributed to a recent cyber attack that disrupted operations. This incident underscores the increasing threat of cybercrime to businesses, highlighting the urgent need for enhanced cybersecurity measures. The financial fallout not only affects profits but also consumer trust, posing significant challenges for retailers in the digital age.

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Financial MarketsMarks & Spencer

Updated 6 days ago

Marks & Spencer Reports 55% Profit Drop Due to Cyber Attack

BBC News5 days ago

M&S profits almost wiped out after cyber hack hit sales

NegativeFinancial Markets

Marks & Spencer has reported a significant setback as a cyber attack severely impacted its sales, leading to a staggering loss of £101 million. This incident not only highlights the vulnerabilities that retailers face in the digital age but also raises concerns about consumer trust and the potential long-term effects on the brand's reputation. As M&S works to recover from this breach, it serves as a reminder for all businesses to bolster their cybersecurity measures.

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via BBC News

Investing.com5 days ago

Marks & Spencer’s first-half profit declines 55% after cyberattack disruption

NegativeFinancial Markets

Marks & Spencer has reported a staggering 55% decline in its first-half profits, largely attributed to disruptions caused by a recent cyberattack. This significant drop highlights the vulnerabilities that businesses face in the digital age and raises concerns about the long-term impact on the company's operations and reputation. As cyber threats continue to evolve, the incident serves as a wake-up call for retailers to bolster their cybersecurity measures.

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via Investing.com

The Wall Street Journal6 days ago

Marks & Spencer Profits Plummet on Cyberattack

NegativeFinancial Markets

Marks & Spencer has reported a staggering 55% drop in adjusted pretax profits due to a recent cyberattack. This significant decline raises concerns about the retailer's financial health, but the company remains optimistic, forecasting a recovery in the latter half of the fiscal year. This situation highlights the growing threat of cyberattacks on businesses and the potential long-term impacts on their profitability.

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via The Wall Street Journal

Sky News6 days ago

M&S reveals cost of cyber attack as profit almost wiped out

NegativeFinancial Markets

Marks and Spencer has revealed that a recent cyber attack is set to cost the company around £136 million, significantly impacting its profits. This incident highlights the growing threat of cybercrime to businesses, especially in the retail sector, and raises concerns about data security and consumer trust.

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via Sky News