Marks & Spencer Faces £300 Million Profit Blow After Major Cyberattack

UK retail giant Marks & Spencer has issued a stark warning of a potential £300 million hit to its profits following a significant cyberattack that has caused widespread disruption to its operations.

The company confirmed that the incident impacted critical systems, leading to ongoing challenges in logistics, inventory management, and online services. While M&S has not disclosed the full extent of the breach or the identity of the attackers, it stated that cybersecurity experts are working around the clock to contain the damage and restore affected systems.

Customers have reported delays in orders and limited availability of products both online and in stores. The retailer emphasized that it is taking the matter seriously and investing heavily in enhanced security measures to prevent future breaches.

This attack adds to a growing list of cyber incidents targeting major UK businesses, raising concerns about the resilience of retail infrastructure and the financial toll of cybersecurity failures.

M&S shares saw a slight dip following the announcement, as analysts assess the long-term impact on the company’s recovery strategy.