M&S to take weeks to recover fully from devastating cyber attack
Half of the systems including Click and Collect are still down despite online orders being restarted in June, the retailer's boss said.
Stuart Machin told the retailer's annual general meeting that after the brand goes 'fully on' the focus will then be on getting its Castle Donington distribution centre in the East Midlands 'back and running'.
He said that 'we will have the vast majority of this behind us' by August.
Hackers disrupted contactless payments and Click and Collect during the cyber attack in April.
The retailer then confirmed that customer data had been stolen, although it said no passwords or card details were accessed.
The attack will wipe around £300 million from this year's profits, the chain has estimated, with the losses only being partly covered by insurance.
Online orders have resumed in England, Scotland and Wales, but customers in Northern Ireland and the Republic of Ireland are still waiting for the service.
Mr Machin said: 'Currently, half of online is open but not areas like Click and Collect. Within the next four weeks we are hoping for the whole of online to be fully on.
'Then our focus will be getting the Donington site back and running.'
The high street giant has previously said that the disruption to services will continue into June and July.
Last week, it sent out e-gift cards to customers who had online orders cancelled or had click and collect orders delayed.
A message on the M&S website today reads: 'We will resume Click & Collect, Next Day Delivery and UK Nominated Day Delivery for fashion and international ordering in the coming weeks.' More Trending
The retailer is just one of many household names that have been hacked recently including Co-op, Harrods and Dior.
In April, Co-op had to shut down its IT systems to stop hackers from snatching personal and financial information like shopper passwords or bank details.
As with the M&S cyber attack, Co-op shoppers were left contending with empty shelves and deliveries being paused.
Do you have a story you would like to share? Contact josh.layton@metro.co.uk
MORE: M&S online orders resumed six weeks after cyber-attack that cost them £300,000,000
MORE: M&S to face disruption from massive cyber attack for another two months
MORE: Marks and Spencer says customer data was stolen in cyber attack
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
3 hours ago
- Reuters
S&P 500, Nasdaq end at record closing highs as moderate inflation lifts rate hopes
NEW YORK, Aug 12 (Reuters) - The S&P 500 and the Nasdaq ended at record closing highs on Tuesday, as news that July inflation rose broadly in line with expectations bolstered bets on a Federal Reserve interest rate cut next month. The Labor Department said the Consumer Price Index (CPI) rose 0.2% on a monthly basis in July, while annual inflation came in slightly below forecasts, drawing calls from U.S. President Donald Trump to lower interest rates. Yields on shorter-dated Treasury bonds - a reflection of interest rate expectations - slipped and rate futures showed traders are giving an 88.8% chance that the Fed could lower rates by about 25 basis points in September. "The CPI data is supportive for equities overall, getting some good news with the Fed looking more on track to cut in September and potentially more transitory inflation," said Katherine Bordlemay, co-head of client portfolio management, fundamental equities at Goldman Sachs Asset Management. "The first thing I'd guide is continue to lean into the theme of the big are getting bigger. We continue to have conviction around mega-tech and technology." Alphabet (GOOGL.O), opens new tab shares rose as Perplexity made a $34.5 billion cash offer to buy the company's Chrome browser. Intel Corp (INTC.O), opens new tab climbed after Trump said he met its CEO, Lip-Bu Tan, on Monday, praising Tan and calling the meeting "very interesting." Last week, Trump had demanded Tan's immediate resignation, calling him "highly conflicted" over his ties to Chinese firms. According to preliminary data, the S&P 500 (.SPX), opens new tab gained 72.23 points, or 1.13%, to end at 6,445.68 points, while the Nasdaq Composite (.IXIC), opens new tab gained 293.94 points, or 1.37%, to 21,679.34. The Dow Jones Industrial Average (.DJI), opens new tab rose 481.05 points, or 1.09%, to 44,456.14. The quality of economic data remains a concern weeks after Trump fired the head of the Bureau of Labor Statistics following downward revisions to previous months' nonfarm payrolls counts. Markets are monitoring developments around Trump's nominee, E.J. Antoni, to the bureau commissioner post and potential candidates for the Fed's top job. "This is still early innings of this process and just as the Fed will be beginning to cut rates in the autumn, that's when the inflation data will probably start to be registering some of these more direct tariff price increases and it's going to complicate the rate-cutting decision," said John Velis, a macro strategist at BNY. Relief came as the U.S. and China extended their tariff truce until November 10, staving off triple-digit duties on each other's goods. U.S. stocks have rallied in recent weeks on the back of strong tech earnings, easing trade tensions, and increased rate cut expectations. Inflows into U.S. stocks last week were the largest in two years, BofA Global Research data showed. The Russell 2000 index (.RUT), opens new tab, tracking small-cap companies (.RUT), opens new tab, also advanced. An index tracking airline stocks (.SPLRCALI), opens new tab surged, putting it on track for its biggest one-day rise in over a month after data showed airfares rose 4% in July. Bank stocks rallied, with the S&P 500 Banks index (.SPXBK), opens new tab up, as analysts said a steepening of the yield curve could help bank earnings as lenders could borrow cheap and lend at a higher rate. Cardinal Health (CAH.N), opens new tab dropped after the drug distributor said it will buy healthcare management firm Solaris for $1.9 billion.
Fashion United
4 hours ago
- Fashion United
Marks & Spencer names new chief people officer
British department store Marks & Spencer has named Hayley Tatum as its new chief people officer. She joins the retailer from Asda, where she spent over 14 years in the same role, nine of which in combination with the title chief corporate affairs officer. Her appointment was confirmed by Marks & Spencer CEO, Stuart Machin, who, in a post on LinkedIn, said Tatum would join the business from October 2025, at which time she will start her induction by working alongside store colleagues and in distribution centres. Machin, who has worked with Tatum previously, said she possesses a 'very hands-on and collaborative leadership style', before adding: 'We have lots to do in the years ahead to transform M&S and importantly become even closer to our customers and closer to our colleagues.' Tatum succeeds Sarah Findlater, who is stepping down from her role as people director after 27 years in total at Marks & Spencer. Findlater, who is to exit the company in autumn, was called a 'joy to work with' by Machin, who said she would 'leave as a long-term friend of the company'. In her own post, Findlater said: 'It's been a real privilege to grow through so many leadership roles and to work alongside some truly fabulous people who've inspired me every step of the way, and never more so than during the three months I recently spent working in stores alongside our incredible store colleagues. I leave the business at a high point – after three years of commercial growth, cultural transformation, and deep operational change.'
Reuters
4 hours ago
- Reuters
S&P 500, Nasdaq at record highs as moderate inflation lifts rate hopes
Aug 12 (Reuters) - Wall Street's main indexes advanced on Tuesday, with the S&P 500 and the Nasdaq hitting record highs, as news that July inflation rose broadly in line with expectations bolstered bets on a Federal Reserve interest rate cut next month. The Labor Department said the Consumer Price Index (CPI) rose 0.2% on a monthly basis in July, while annual inflation came in slightly below forecasts, drawing calls from U.S. President Donald Trump to lower interest rates. Yields on shorter-dated Treasury bonds - a reflection of interest rate expectations - slipped and rate futures showed traders are giving an 88.8% chance that the Fed could lower rates by about 25 basis points in September. "The CPI data is supportive for equities overall, getting some good news with the Fed looking more on track to cut in September and potentially more transitory inflation," said Katherine Bordlemay, co-head of client portfolio management, fundamental equities at Goldman Sachs Asset Management. "The first thing I'd guide is continue to lean into the theme of the big are getting bigger. We continue to have conviction around mega-tech and technology." Alphabet (GOOGL.O), opens new tab rose 1.3% as Perplexity made a $34.5 billion cash offer to buy the company's Chrome browser. Intel Corp (INTC.O), opens new tab climbed 4% after Trump said he met its CEO, Lip-Bu Tan, on Monday, praising Tan and calling the meeting "very interesting." Last week, Trump had demanded Tan's immediate resignation, calling him "highly conflicted" over his ties to Chinese firms. At 2:03 p.m. ET, the Dow Jones Industrial Average (.DJI), opens new tab rose 509.74 points, or 1.16%, to 44,485.32. The S&P 500 (.SPX), opens new tab gained 66.78 points, or 1.05%, at 6,440.23 and the Nasdaq Composite (.IXIC), opens new tab climbed 268.51 points, or 1.26%, to 21,653.92. The quality of economic data remains a concern weeks after Trump fired the head of the Bureau of Labor Statistics following downward revisions to previous months' nonfarm payrolls counts. Markets are monitoring developments around Trump's nominee, E.J. Antoni, to the bureau commissioner post and potential candidates for the Fed's top job. "This is still early innings of this process and just as the Fed will be beginning to cut rates in the autumn, that's when the inflation data will probably start to be registering some of these more direct tariff price increases and it's going to complicate the rate-cutting decision," said John Velis, a macro strategist at BNY. Relief came as the U.S. and China extended their tariff truce until November 10, staving off triple-digit duties on each other's goods. U.S. stocks have rallied in recent weeks, putting the benchmark S&P 500 on track for its first record high close in nearly two weeks, on the back of strong tech earnings, easing trade tensions, and increased rate cut expectations. Inflows into U.S. stocks last week were the largest in two years, BofA Global Research data showed. The Russell 2000 index (.RUT), opens new tab, tracking small-cap companies (.RUT), opens new tab, also advanced 2.4% to hit a two-week high. An index tracking airline stocks (.SPLRCALI), opens new tab surged 8%, putting it on track for its biggest one-day rise in over a month after data showed airfares rose 4% in July. Bank stocks rallied, with the S&P 500 Banks index (.SPXBK), opens new tab up 2.2%, as analysts said a steepening of the yield curve could help bank earnings as lenders could borrow cheap and lend at a higher rate. Cardinal Health (CAH.N), opens new tab dropped 7.7% after the drug distributor said it will buy healthcare management firm Solaris for $1.9 billion. Advancing issues outnumbered decliners by a 3.71-to-1 ratio on the NYSE. There were 377 new highs and 53 new lows on the NYSE. On the Nasdaq, advancing issues outnumbered decliners by a 2.37-to-1 ratio. The S&P 500 posted 23 new 52-week highs and 11 new lows while the Nasdaq Composite recorded 89 new highs and 83 new lows.
