Marks & Spencer food sales bounce back as High Street chain recovers from cyber attack

Daily Mail​

9 hours ago

Marks & Spencer's food sales have bounced back this summer as it recovers from a cyber attack.
The High Street retailer saw a 6.7 per cent surge in takings over the three months to August 9 compared to a year earlier, according to market research firm NielsenIQ.
This was a higher rate of growth than the 4.3 per cent it recorded in last month's report.
After it was targeted by cyber criminals over Easter, M&S halted website and app orders while its food stocking systems were thrown into chaos, leaving shelves empty.
It did not sell clothes and homeware online for almost two months and did not offer a click-and-collect service for nearly four months.
This sent shoppers in the direction of competitors, including Next, which sells many of the same third-party brands online. M&S expects a £300million dent to profits this year.
But boss Stuart Machin has described the hack as a 'bump in the road' and said it will not halt a revival at the business.
And M&S this month retained its 3.7 per cent market share, the same slice it held a year ago.
This has brought it neck and neck with rival grocer Waitrose, which increased its share from 3.7 per cent to 3.8 per cent.
When the attack hit, M&S had been enjoying the fruits of a long-sought turnaround after its clothes had been deemed 'frumpy' for years.
It has enticed younger shoppers by offering stylish clothing ranges, advertised by stars including Sienna Miller.
And it has boosted its food ranges, with new offerings such as pistachio creme and lemon hot cross buns going 'viral' on social media.
Four individuals, including three teenagers, have been bailed pending further enquiries after the cyber attack over the Easter bank holiday.
The personal data of millions of customers, which could have included names, email addresses, postal addresses and dates of birth, was stolen.
Machin said: 'We are now focused on recovery, with the aim of exiting this a much stronger business.'
Shares fell 0.7 per cent.
End of King's reign
Justin King is quitting the board of Marks & Spencer next month after six years.
King (pictured) used to run the retailer's food business and was boss of Sainsbury's from 2004 to 2014.
He will step down on September 10. He has been rumoured to be the frontrunner to take over as chairman of publicly owned broadcaster Channel 4.
M&S chairman Archie Norman said that King, 64, 'leaves as a lifelong friend of the business'.