Marks & Spencer confirms cyberattack cost £136m hit to profits
05/11/2025 | Financial Times
Marks and Spencer has reported that the major cyberattack earlier this year is expected to cost £136 million in annual profits. The British retailer recorded a £101.6 million charge in the first half, contributing to a 55% fall in profits to £184.1 million. The attack, attributed to a Russian cybercriminal group called DragonForce, led to the theft of customer data and shut down online clothing and furniture sales for 7 weeks. M&S has since brought forward a technology overhaul and expects second-half profits to rebound. The retailer confirmed it has claimed £100 million from its insurers.
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