If £300m can be whittled down to £150m, it’s a big hit but still a long way from upsetting M&S’s broader revivalShouldn’t a robust IT system be able to withstand the odd “human error”, such as somebody at a third-party supplier being hoodwinked by devious cybercriminals? Isn’t <a href=”https://www.theguardian.com/business/2025/may/21/cyber-attack-cost-marks-and-spencer-lost-sales-company-results-reveal”>£300m at the expensive end for these events? And should it really take four-and-a-half weeks, and counting, for one of the UK’s biggest and well-resourced retailers to restore its website to working order?The response of Marks & Spencer’s chief executive, Stuart Machin, to such questions ran along these lines: the incident had nothing to do with underinvestment in IT; everyone is vulnerable; M&S was unlucky; the “moment in time” will pass and everything will be back to normal by July at the latest. <a href=”https://www.theguardian.com/business/nils-pratley-on-finance/2025/may/21/cyber-attack-costly-embarrassing-but-ms-should-pull-through”>Continue reading…
First seen on theguardian.com
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