Introduction
British retailer Marks & Spencer has resumed online clothing orders after a 46-day interruption due to a cyberattack.Context
On June 10, shares in M&S, a prominent name in British business, climbed by 3.5% following the revival of standard home delivery services for the majority of its clothing range in England, Scotland, and Wales. Previously, M&S had halted online orders for clothing and home items on April 25 after experiencing issues with contactless payments and click-and-collect services during the Easter holiday weekend.Developments
An M&S spokesperson mentioned that, while not all items are available at this time, the focus has been on best sellers and new arrivals. The retailer plans to expand the online product selection daily. Delivery to Northern Ireland is expected to resume in the "coming weeks," along with services like click and collect, next-day delivery, and international ordering.The cyberattack, which M&S first reported managing on April 22, is predicted to cost the company around 300 million pounds (approximately $404 million) in lost operating profit for the 2025/26 financial year. However, M&S hopes to mitigate the impact through insurance and enhanced cost control measures. The attack also disrupted M&S's capability to supply food and clothing to stores, resulting in missed sales opportunities amid favorable weather conditions.
Analysts predict that the end-of-season clothing sale will be larger than usual, featuring deeper discounts. Despite the recent gain in stock price, M&S shares have decreased by 9.5% since the disclosure of the cyberattack. According to company statements, the hackers infiltrated M&S systems via a third-party contractor, bypassing digital security measures to execute the attack.
In light of the incident, M&S has indicated it will leverage the crisis to speed up improvements in its technology. Additionally, several other major retailers worldwide have reported similar cyber incidents in recent weeks.