logo
After 46-day cyberattack pause, M&S resumes online orders

After 46-day cyberattack pause, M&S resumes online orders

Yahoo18 hours ago

By James Davey and Paul Sandle
LONDON (Reuters) - British retailer Marks & Spencer resumed taking online orders for clothing lines on Tuesday after a 46-day hiatus following a cyberattack.
Shares in M&S, one of the best-known names in British business, were up 3% after it restarted standard home delivery in England, Scotland and Wales for the majority of its clothing range.
"It's not the full range at the moment, we've focused on best sellers and newness," an M&S spokesperson said.
"We'll be bringing product online everyday so customers will see that grow over the coming days."
M&S said delivery to Northern Ireland will resume in the "coming weeks", as will click and collect services, next-day delivery, nominated-day delivery and international ordering.
The 141-year-old M&S stopped taking clothing and home orders through its website and app on April 25 following problems with contactless pay and click and collect services over the Easter holiday weekend.
It first disclosed it had been managing a "cyber incident" on April 22.
M&S said last month it expected online disruption to continue into July and forecast the attack would cost it about 300 million pounds ($404 million) in lost operating profit in its 2025/26 financial year, though it hopes to halve the impact through insurance and cost control.
The group said hackers broke into its systems by tricking employees at a third-party contractor, skirting its digital defences to launch a cyberattack.
($1 = 0.7429 pounds)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Arista Networks (ANET) Stock Slides as Market Rises: Facts to Know Before You Trade
Arista Networks (ANET) Stock Slides as Market Rises: Facts to Know Before You Trade

Yahoo

time34 minutes ago

  • Yahoo

Arista Networks (ANET) Stock Slides as Market Rises: Facts to Know Before You Trade

Arista Networks (ANET) ended the recent trading session at $93.70, demonstrating a -3.2% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.55%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 0.63%. Heading into today, shares of the cloud networking company had gained 4.85% over the past month, lagging the Computer and Technology sector's gain of 11.3% and the S&P 500's gain of 6.29% in that time. Investors will be eagerly watching for the performance of Arista Networks in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.65, signifying a 25% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.11 billion, up 24.67% from the prior-year quarter. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.56 per share and a revenue of $8.31 billion, indicating changes of +12.78% and +18.72%, respectively, from the former year. Investors might also notice recent changes to analyst estimates for Arista Networks. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Arista Networks holds a Zacks Rank of #2 (Buy). Looking at its valuation, Arista Networks is holding a Forward P/E ratio of 37.83. This denotes a premium relative to the industry's average Forward P/E of 29.13. One should further note that ANET currently holds a PEG ratio of 2.56. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.33. The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow ANET in the coming trading sessions, be sure to utilize Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Arista Networks, Inc. (ANET) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio

CNBC Daily Open: The U.S. stock market could be a little too optimistic
CNBC Daily Open: The U.S. stock market could be a little too optimistic

CNBC

timean hour ago

  • CNBC

CNBC Daily Open: The U.S. stock market could be a little too optimistic

The U.S. stock market appears a little too optimistic. All three major indexes climbed Wednesday, with the S&P 500 and Nasdaq Composite enjoying their third consecutive session in the green. The S&P, in fact, is around 2% away from its all-time high, which it reached in February. That's despite the shadow of U.S. President Donald Trump's "reciprocal" tariffs still haunting the economy. As the 90-day tariff pause ticks down, America, so far, has just one deal, struck with the U.K., and an agreement with China that, while reaffirmed by both sides after two days of negotiations in London, is still preliminary and keeps tariffs at double-digit levels. Corporations are seemingly bracing for economic fallout already. Layoffs have been accelerating this year. Google and Paramount on Tuesday joined Microsoft, Citigroup and Disney in announcing headcount cuts. (However, it should be noted that layoffs, rather perversely, tend to push up stock prices because they are a cost-cutting measure.) And the bond market, the sterner sibling of the stock market, might put a check on investor enthusiasm. If there are unexpected results from U.S. inflation data and Treasury auctions on Wednesday and Thursday, yields could rise again, not only putting pressure on stocks, but also the broader economy in terms of higher borrowing costs. The stock market, then, seems to be betting on more trade breakthroughs and favorable inflation data. But the bond market and CEOs might not be so sure about that. U.S. and China reach trade frameworkThe U.S. and China have reached a consensus on trade, representatives from both sides said, following a second day of high-level talks in London, according to an NBC transcript. "We have reached a framework to implement the Geneva consensus and the call between the two presidents," U.S. Commerce Secretary Howard Lutnick said. That echoed comments from the Chinese side, shared via a translator. S&P 500 notches three-day win streakU.S. stocks rose Wednesday. The S&P 500 advanced 0.55% and the Nasdaq Composite climbed 0.63%, the third day of gains for both indexes. The Dow Jones Industrial Average added 0.25%. The pan-European Stoxx 600 index closed mostly flat after struggling for direction most of the day. The U.K.'s FTSE 100 added 0.24%, an inch away from its record in March. Shares of Tesla regain groundTesla shares rose 5.7% Tuesday to close at $326.09, leaving the stock about $6 short of where it was trading last Wednesday, when it sank 14% after CEO Elon Musk publicly feuded with Trump. The latest jump came after Musk shared a video on X showing that Tesla was testing driverless vehicles on the roads of Austin, Texas. Musk said Tuesday Tesla's robotaxi service is "tentatively" set to launch in Austin on June 22. Bond market in focus The U.S. Bureau of Labor Statistics releases data on May's consumer prices on Wednesday, then producer prices on Thursday. At the same time, the government will hold sales of long-duration Treasurys on the same days. Together, those results could have important implications for the direction of the economy and the reaction of the Federal Reserve and its approach to interest rate policy, reported CNBC's Jeff Cox. Fund houses warn of 'capital outflows'Trump's "One Big Beautiful Bill Act" aims to penalize foreign-owned firms operating in the U.S. and that are from countries with "unfair foreign taxes" under a provision known as Section 899. The Investment Company Institute, which represents fund houses in the U.S., is lobbying Congress for an amendment, warning Section 899 could cause investors to "retreat quickly from US equities," leading to "capital outflows." Google offers buyoutsGoogle on Tuesday offered buyouts to employees in several divisions. Affected units include knowledge and information — which houses the company's search, ads and commerce divisions — and central engineering units as well as marketing, research and communications teams, CNBC has learned. Google has done multiple buyout offers in a few units this year, making it a preferred strategy to reduce headcount. [PRO] Tesla shares to drop 60%: Wells FargoEven though investors were enthused by the prospect of Tesla rolling out its robotaxi service in the future, Wells Fargo analysts think that feature won't be able to offset the company's weak sales that will trend "meaningfully weaker." The bank expects Tesla's shares to plunge around 63% from Tuesday's close. 2025 CNBC Disruptor 50: See the full list of companies leading new era of AI breakthroughs and riches The race for global supremacy in AI and the existential threat it represents to the status quo in the tech industry, and beyond, has led to record venture investment in startups. The top five companies on this year's Disruptor 50 list — including a new No. 1 Disruptor from the defense tech sector — have a combined valuation of just under $500 billion. That is more than the combined total valuation of almost every past Disruptor 50 list over the last 12 years. But it's never just about the money or size in the Disruptor 50 selection process, and it is far from all agentic AI and chatbots. The list includes new business models emerging in a wide range of areas, from agriculture to autonomous transportation and health care.

Trump tariffs may remain in effect while appeals proceed, US appeals court rules
Trump tariffs may remain in effect while appeals proceed, US appeals court rules

Yahoo

timean hour ago

  • Yahoo

Trump tariffs may remain in effect while appeals proceed, US appeals court rules

By Dietrich Knauth and Nate Raymond (Reuters) -A federal appeals court allowed President Donald Trump's most sweeping tariffs to remain in effect on Tuesday while it reviews a lower court decision blocking them on grounds that Trump had exceeded his authority by imposing them. The decision by the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. means Trump may continue to enforce, for now, his "Liberation Day" tariffs on imports from most U.S. trading partners, as well as a separate set of tariffs levied on Canada, China and Mexico. The appeals court has yet to rule on whether the tariffs are permissible under an emergency economic powers act that Trump cited to justify them, but it allowed the tariffs to remain in place while the appeals play out. The Federal Circuit said the litigation raised issues of "exceptional importance" warranting the court to take the rare step of having the 11-member court hear the appeal, rather than have it go before a three-judge panel first. It scheduled arguments for July 31. The tariffs, used by Trump as negotiating leverage with U.S. trading partners, and their on-again, off-again nature have shocked markets and whipsawed companies of all sizes as they seek to manage supply chains, production, staffing and prices. The ruling has no impact on other tariffs levied under more traditional legal authority, such as tariffs on steel and aluminum imports. A three-judge panel of the U.S. Court of International Trade ruled on May 28 that the U.S. Constitution gave Congress, not the president, the power to levy taxes and tariffs, and that the president had exceeded his authority by invoking the International Emergency Economic Powers Act, a law intended to address "unusual and extraordinary" threats during national emergencies. The Trump administration quickly appealed the ruling, and the Federal Circuit in Washington put the lower court decision on hold the next day while it considered whether to impose a longer-term pause. The ruling came in a pair of lawsuits, one filed by the nonpartisan Liberty Justice Center on behalf of five small U.S. businesses that import goods from countries targeted by the duties and the other by 12 U.S. states. Trump has claimed broad authority to set tariffs under IEEPA. The 1977 law has historically been used to impose sanctions on enemies of the U.S. or freeze their assets. Trump is the first U.S. president to use it to impose tariffs. Trump has said that the tariffs imposed in February on Canada, China and Mexico were to fight illegal fentanyl trafficking at U.S. borders, denied by the three countries, and that the across-the-board tariffs on all U.S. trading partners imposed in April were a response to the U.S. trade deficit. The states and small businesses had argued the tariffs were not a legal or appropriate way to address those matters, and the small businesses argued that the decades-long U.S. practice of buying more goods than it exports does not qualify as an emergency that would trigger IEEPA. At least five other court cases have challenged the tariffs justified under the emergency economic powers act, including other small businesses and the state of California. One of those cases, in federal court in Washington, D.C., also resulted in an initial ruling against the tariffs, and no court has yet backed the unlimited emergency tariff authority Trump has claimed.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store