M&S Says Cyberattack to Cut Profit by £300 Million

Marks & Spencer said a recent cyberattack will reduce its operating profit by an estimated £300 million, citing ongoing disruption expected to last through July. The British retailer disclosed that the financial impact figure is calculated before factoring in potential cost mitigation, insurance coverage or trading-related actions.

The company did not specify details about the nature of the attack, but noted that the incident has significantly affected its operations. The disruption is expected to continue for several weeks, potentially influencing both supply chain efficiency and customer-facing services.

M&S’s forecast underscores the growing financial risks posed by cyber incidents in the retail sector, where technology plays a central role in logistics and sales. The company said it is working to restore systems and minimize further operational fallout.

The attack adds pressure to M&S’s performance outlook amid ongoing efforts to modernize its business and adapt to evolving market conditions. The retailer did not specify when full recovery is expected.