The recent cyber-attack on Marks & Spencer has crippled their operations, resulting in significant financial losses and supply chain disruptions. As the UK’s leading clothing retailer, M&S faces major challenges in re-establishing their online services and managing their in-store inventory.
Key Points
- Cyber-attack has halted online orders for over a week, costing M&S millions daily.
- Disruptions to automated systems have led to shortages in both clothing and packaged food.
- The police and National Crime Agency are investigating the attack, linked to the hacking group Scattered Spider.
- Industry analysts estimate a £30m hit to profits, with ongoing losses of around £15m per week.
- M&S has had to improvise with staff manually checking stock and relying on outdated systems.
Why should I read this?
If you’re interested in the intersection of retail and tech security, this article is a must-read. It highlights real-time consequences of cyber-attacks on major retailers and shines a light on the urgent need for improved cybersecurity measures. Plus, it offers a look behind the curtain at how businesses rally in crisis – essential knowledge for anyone keeping tabs on the retail industry!