Thu, 25 Sep 2025

Thu, 25 Sep 2025 Co-op says cyber-attack cost it £206m in lost sales

The retailer's IT networks were infiltrated by hackers in April, leading to payment problems and shortages of goods in shops.
- The Co-op's cyber-attack cost it at least £206m in lost revenues. - The attack caused payment problems, widespread shortages of goods, and loss of customer data. - The retailer reported a £75m underlying pre-tax loss for the six months to July 5, compared to a £3m profit in the same period last year. - Increased staffing costs and regulations also contributed to the loss. - The full cost of the attack could be higher as it is expected to have an impact on business in the second half of the year. - Co-op's total group revenue decreased from £5.6bn to £5.48bn compared to the same period last year. - 6.5 million member customers had their data stolen, and funeral homes had to resort to paper-based systems due to the attack. - The business faced rising costs and pressure on consumer confidence from the cost of living increase.
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