Cyber-attack cost Marks & Spencer £300m in lost sales, company results reveal
- British retailer Marks & Spencer reported that a cyberattack will cost the company £300 million in annual profits.
- The cyberattack occurred over the Easter holiday, disrupting food sales and online retail.
- Marks & Spencer experienced a loss of over £1 billion in stock market value due to the attack, which is expected to impact operations into July.
- Chief Executive Stuart Machin stated that the company is focused on recovery and restoring its systems and operations.
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M&S cyber-attack: how to protect yourself from sim-swap fraud
Our mobile phone numbers have become a de facto form of identification, but they can be hijacked for nefarious purposes. Just such an attack may have been involved in the recent very damaging cyber-attack on Marks & Spencer (M&S). The hack happened in April and forced M&S to stop taking online orders. It also caused disruption to some of its stores. The company has said that its online business could be disrupted into July and could result in an…
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Total News Sources151
Leaning Left17Leaning Right14Center32Last UpdatedBias Distribution51% Center
Bias Distribution
- 51% of the sources are Center
51% Center
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C 51%
R 22%
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