Marks and Spencer’s (M&S) shares have taken a serious hit following a cyber attack that has significantly impacted their operations. The retailer’s share price dropped over three per cent in early trading, marking nearly a nine per cent decrease since the attack announcement. This event has led to a suspension of online orders and disruptions in contactless payments for customers.
Key Points
- M&S shares fell by more than three per cent today, following a cyber attack that happened last week.
- The retailer’s shares have dropped nearly nine per cent since the announcement of the cyber attack.
- Online orders have been suspended and contactless payments were disrupted as a consequence of the attack.
- Staff working from home were reportedly locked out of IT systems as M&S attempts to manage the situation.
- Cybersecurity experts highlight the need for robust industry-wide measures to protect against such threats.
Why should I read this?
If you’re keeping an eye on the stock market or simply interested in how major retailers handle crises, this article is a must-read. It showcases the real-world implications of cybersecurity breaches and how they can swiftly impact a company’s financial standing and everyday operations. Knowing how M&S copes with this situation might give you insights into corporate resilience – not something you want to miss!