Britain's M&S says cyberattack to cost $400 million
FILE PHOTO: A sign warning of temporary delays with Click & Collect parcels stands at an M&S Food Hall in London, Britain, April 30, 2025. REUTERS/Suzanne Plunkett/File Photo
LONDON (Reuters) -British retailer Marks & Spencer said on Wednesday last month's cyberattack would cost it about 300 million pounds ($403 million) in current year operating profit, before cost mitigation, insurance and trading actions.
The attack on one of the biggest names in Britain, with 64,000 staff and 565 stores, sent shockwaves through the retail sector. It forced its online clothing operation offline, left some food shelves bare, and wiped over a billion pounds from the company's stock market value.
($1 = 0.7443 pounds)
(Reporting by James Davey, editing by Paul Sandle)
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