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M&S ‘praying for sun’ but full recovery from cyber-attack unlikely this summer
- Marks & Spencer faced disruption from a cyber-attack but resumed internet orders for fashion ranges in certain regions.
- Shoppers in Northern Ireland had to wait longer for ordering and various services are to be phased back in gradually.
- The retailer prioritized online fashion sales due to the limited time to sell seasonal stock.
- The potential impact of the cyber-attack on M&S was significant, with estimated losses in online clothing sales.
- Customers expressed excitement but faced delays and limited stock upon attempting to place orders.
- M&S expects a substantial profit hit this year due to the cyber-attack, affecting its supply chain and in-store availability.
- Physical store visits were encouraged during the online downtime, but the shift in spending and stock availability remains uncertain.
- M&S faces challenges in online and in-store operations to restore normal service levels after the attack.
- Analysts suggest M&S might have to initiate discounts to manage excess summer stock and recover lost earnings.
- Rebuilding trust with customers and managing post-attack recovery are key priorities for Marks & Spencer.
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