Impact of Cyber Attack on M&S
M&S has recently reported a significant £300 million reduction in expected profits due to a serious cyber attack. Despite this setback, the company noted impressive growth in sales, which increased by 6.1 percent to reach £13.9 billion. Additionally, their pre-tax profit surged by 22.2 percent. The cyber incident has raised concerns over future operations and customer trust.
The rise in sales showcases M&S’s resilience despite the challenges posed by the cyber attack. However, the company must now navigate the repercussions of this incident, which could affect its operations in the long run. The focus will be on restoring consumer confidence as they work to address the security breach.
