Latest news with #M&SInternational
Daily Mail
28-04-2025
- Business
- Daily Mail
M&S shares under pressure as cyber chaos heads into second week
Marks & Spencer shares extended losses this morning with last week's cyber attack resulting in the retailer being forced to suspend online shopping. The FTSE 100 high street stalwart has paused taking orders via its UK & Ireland websites and apps, and some M&S International operated websites, as part of efforts to manage the impact of the attack. M&S's online presence a key driver of its crucial clothing and homeware business, and investors are concerned about the ramifications for sales as the fallout heads into its second week. M&S shares were down 2.7 per cent to 375p in early trading, taking losses since M&S revealed the attack on 22 April to around 8 per cent. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said the ongoing suspension of online orders 'will be hugely damaging for sales'. Online orders accounted for around a third of the retailer's first half sales in clothing in homeware, which generated an adjusted operating profit £242.2million compared to £213.1million in food. M&S boss Stuart Machin told shareholders in November it is a 'critical objective to grow online participation' in clothing and home after delivering double-digit sales growth in the six months to 28 September. Streeter said: '[The] ease of shopping and delivery has been upended. Even though stores are open, many simply don't stock the popular ranges from online. 'Fashion sales are likely to take a big hit particularly as the attack has come during the spell of warm weather when summer ranges would ordinarily be piling up in virtual baskets. 'While other retailers have not been immune to IT breaches, the depth of Marks and Spencer's problems in resolving the issue are worrying, and it may take some time to win back some more warier shoppers.' It follows a remarkable run for M&S, which has seen sales balloon in recent years as its online 'click and collect' service and food offering revamp have proved popular. Its shares are still up by more than 300 per cent over the last five years, though they have come under recent pressure amid an emerging supermarket price war and the growing strength of discounters. And the group has been pursuing an ambitious agenda for its next stage of growth. Clive Black, equity analyst at Shore Capital Markets, wrote last month of M&S: 'Food sales are still going very well, still gaining market share, whilst for [clothing and home] it is the same story, albeit we sense that the UK apparel market has been quite sluggish. He also highlighted the retailer's 'strong' balance sheet and said M&S has the capacity to invest in processes to further improve productivity. Black said: 'M&S is in good shape, to us, reflected in the narrative of management. 'That said, it is not a case of job done, with self-help needing to be seen through, competitive priorities having to be addressed as necessary, and growth opportunities ceased. 'The firm does so with a strong financial constitution with scope for building optionality around shareholder friendliness in time.'
Times
25-04-2025
- Business
- Times
M&S cyberattack: online orders suspended after week of disruption
Marks & Spencer customers were left in limbo on Friday after the retailer stopped taking online orders and confirmed that many existing orders would not be fulfilled after a crippling cyberattack. The company took the drastic step of effectively shutting its website and app almost a week after the attack began over the Easter weekend. Cybersecurity experts said the decision suggested that M&S had yet to get a handle on the scale of the assault or how to stop it. Shortly after lunch M&S posted a message on its social media channels that said: 'As part of our proactive management of the incident, we have made the decision to pause taking orders via our UK & Ireland websites and apps and some M&S International operated
Irish Daily Mirror
25-04-2025
- Business
- Irish Daily Mirror
Marks and Spencer issues urgent update as it suspends all online shopping
Marks and Spencer has issued an urgent update to customers in Ireland after suspending all online shopping services in the wake of a serious cyber incident. Shoppers across Ireland have been affected by the disruption, which began on Monday, leaving customers unable to place orders via the Marks and Spencer website or app. The incident also caused issues with in-store contactless payments, Click and Collect services and the use of gift cards. In a statement issued today, a Marks and Spencer spokesperson said: "As part of our proactive management of the incident, we have made the decision to pause taking orders via our UK and Ireland websites and apps and some M&S International operated websites. "The M&S product range is available to browse online, and our stores remain open and ready to welcome and serve customers. We previously informed customers that there was no need to take any action. That remains the case, and we will let them know, if the situation changes. "We remain grateful for the support that our customers, colleagues, partners and suppliers have shown during this time and will provide further updates, as appropriate." While customers can still browse the Marks and Spencer product range online, all online orders remain suspended. Stores across Ireland continue to operate as normal, but the retailer has warned that technical issues may persist. Responding to a social media post, Marks and Spencer said: "Gift cards, e-gift cards and credit receipts can't currently be used as a payment method in store or online." The retailer has reported the cyber incident to the UK's National Cyber Security Centre (NCSC) and says it will continue to monitor the situation closely.
CNA
25-04-2025
- Business
- CNA
Britain's M&S stops taking online orders after cyber attack
LONDON :Marks & Spencer stopped taking online orders in the UK and Ireland on Friday following a cyber attack which it reported earlier in the week, an announcement which sent its shares down by 5 per cent. The British company, which sells its clothing and homeware ranges through its website and app, said it made the decision as part of "proactive management" of the incident. "Our experienced team - supported by leading cyber experts - is working extremely hard to restart online and app shopping," the company said on X, apologising for the inconvenience and stating that its stores remained open. Some M&S International operated websites were also pausing orders, it said. M&S is a fixture in most British towns, and it posted revenue of about 13 billion pounds last year from its upmarket food as well as clothing, homeware and beauty. About one third of its clothing and home sales are online. It said on Tuesday it had been affected by a cyber incident and was making some temporary changes to store operations as a result. In recent days customers told the BBC they been unable to make contactless payments and some click and collect orders had been delayed. The National Crime Agency said it was aware of the incident and its officers were working alongside the National Cyber Security Centre to support the company.
Metro
25-04-2025
- Business
- Metro
Cyber attack forces M&S to stop taking orders online sending shares plummeting
M&S has paused all online and app orders days after a 'cyber incident' paralysed its contactless payment system and click and collect. Marks and Spencer was rocked over the Easter weekend by technical issues that meant shoppers could not use contactless payments. In the days since, shares of the FTSE 100 retailer have tumbled to 377p from 411p last week. The company said today: 'As part of our proactive management of the incident, we have made the decision to pause taking orders via our UK & Ireland websites and apps and some M&S International operated website. More Trending 'The M&S product range is available to browse online, and our stores remain open and ready to welcome and serve customers. 'We continue to manage the incident proactively and the M&S team – supported by leading experts – is working extremely hard to restore online operations and continue to serve customers well. 'We previously informed customers that there was no need to take any action. That remains the case, and we will let them know, if the situation changes. 'We remain grateful for the support that our customers, colleagues, partners and suppliers have shown during this time and will provide further updates, as appropriate.' Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. MORE: Marks and Spencer join forces with fashion designer Olivia von Halle for a range of chic loungewear MORE: Supermarket own-brand butter officially crowned better than Lurpak — and it's 60% cheaper MORE: Shoppers furious over 'unspoken' supermarket rule that customers keep breaking
