M&S Cyberattack Chaos: £300 Million Blow with a Side of Ransom Drama!
Marks & Spencer estimates a £300 million hit from a recent cyberattack, affecting 2025 and 2026 profits. While online shopping is temporarily halted, the company is managing costs to mitigate the impact. Meanwhile, DragonForce, the cyber culprits, have stolen customer information. Who knew hackers could create such a fashion disaster?
Hot Take:
When life gives you ransomware, make sure you have insurance, a stiff upper lip, and maybe a cup of tea because M&S is going to need all three to recover from this cyber calamity. After all, nothing says ‘keep calm and carry on’ quite like a £300 million dent in the profit margin!
Key Points:
- Marks & Spencer faces a £300 million impact due to a cyberattack.
- The attack disrupted food sales and logistics, hitting first-quarter profits.
- Online shopping operations were temporarily halted, expected to ramp up by July.
- The DragonForce ransomware group claimed responsibility, targeting multiple UK retailers.
- Customer data, including partial payment card data, was compromised.
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