Reported about 3 hours ago
British retailer Marks and Spencer reported a 55.4% drop in half-year profits, largely due to a cyberattack that halted its online sales for six weeks, resulting in a £324 million loss in sales. The attack disrupted logistics and compromised customer data, while the fashion sector suffered significant sales declines. Despite a gradual recovery in online sales, competitors capitalized on the disruption, leading to concerns about M&S's long-term market position.
Source: YAHOO