British retail chain Marks & Spencer on Wednesday estimated losses at £300 million related to a cyberattack on the company that has been ongoing for several weeks.
“Our current estimates (…) predict an impact to the group's operating results of around £300 million for 2025/26. This will be limited by stringent cost policies, insurance and other commercial actions,” the company said in a statement.
The Marks & Spencer chain of stores has been under attack since April 25. As a result, customer data has been leaked. As a result, customers cannot shop online or pay using contactless methods.
Marks & Spencer did not say how large the incident was. In a statement, it said customers did not need to take any action other than changing their password . “There is no indication that (the stolen) data was shared further,” the company added.
Marks & Spencer Chief Executive Stuart Machin said on Wednesday the company aims to resume online operations in the coming weeks, but it will take longer to fully restore its online system as it is a complex process.
The BBC reported that a hacking group operating under the name DragonForce has claimed responsibility for the attack on Marks & Spencer, Co-op and Harrods. The alleged perpetrators have vowed to repeat the attacks. After blocking the companies' computer systems, the hackers are demanding a ransom to unblock them.
Marks & Spencer has closed its brick-and-mortar stores in Poland after serious financial problems, but is still active online, where it offers products to Polish customers. (PAP)
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