Wed, 05 Nov 2025

Wed, 05 Nov 2025 M&S profits almost wiped out after cyber hack hit sales

Marks & Spencer's online and in-store sales were hit by a cyber attack which it said cost it £101m

* M&S's profits were almost wiped out after a cyber-attack, with statutory profit before tax slumping 99% to £3.4m.
* The attack disrupted online sales for months and affected in-store sales, leaving some shelves bare.
* Chief executive Stuart Machin said profits should recover in the key Christmas period, but warned that UK shoppers are planning for a "worst-case scenario" due to uncertainty over taxes.
* M&S received £100m of insurance money related to the cyber-attack, which is around the amount it has cost so far, although further costs are expected in coming months.
* The company reported underlying strength and expected full-year profits to be in-line with last year, despite a 16% decline in sales for its main business (homewares and fashion).
* Food sales were up 7.8%, despite the cyber-attack, and M&S is looking forward to a profitable Christmas period.
* The company's IT systems have been strengthened as a result of the attack, with more staffing and increased food wastage costs.
* Other retailers, such as Next, have seen a boost in sales after the cyber-attack on M&S.
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