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Guardian
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M&S fashion rivals ‘benefited from its pause on online orders after cyber-attack’
- Marks & Spencer (M&S) paused online orders for almost seven weeks after a cyber-attack, benefiting rivals like Zara and H&M.
- M&S experienced a 20% drop in clothing sales compared to the previous year during the downtime period.
- The halt in online orders occurred from April 25 to June 10, missing out on crucial sales during a warmer season.
- Despite the cyber-attack affecting online sales, M&S stores performed well, especially in womenswear.
- M&S maintained its position as the largest UK clothing retailer by value despite the sales decline.
- Sales growth for M&S declined to 1% in the later period from 11.5% prior to the cyber-attack.
- Rivals like Next saw an increase in sales growth, benefitting from M&S's digital disruption.
- Zara and H&M experienced significant growth in sales, aided by their online presence.
- Zara's sales growth rose to 27.8%, while H&M's sales growth increased to 18.1%.
- Primark did not benefit from M&S's online pause, with sales growth falling to +2.7%.
- The news highlights the impact of cyber-attacks on businesses and the importance of online sales channels in the retail sector.
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