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Cyberterrorism

Marks & Spencer Reopens Website After Cyber Attack

Strategic Insights

— 1 min read

Marks & Spencer has reopened its website for browsing after a major cyber attack forced the retailer to take the site down overnight to recover. The attack, which was caused by "human error," has left the company with empty shelves in many stores and is expected to cost around £300 million. The disruption could last until July, according to Chief Executive Stuart Machin.

Key Takeaways:

  • Marks & Spencer's website was taken down overnight as part of efforts to recover from a major cyber attack, which was caused by "human error."
  • The attack has left the company with empty shelves in many stores and is expected to cost around £300 million.
  • The disruption could last until July, according to Chief Executive Stuart Machin.
  • The attack resulted in the theft of customer personal data, which could have included names, email addresses, postal addresses, and dates of birth.
  • The company reported a higher-than-expected adjusted pre-tax profit of £875.5 million for the year to March, up 22.2% on the previous year.
  • Technology Director at ANS, Robert Cottrill, emphasized the importance of taking the time to ensure the security of the website and prevent future incidents.
  • The recovery process has been ongoing, with multiple interconnected systems requiring scrutiny to ensure robust security at every layer.

Statistics:

  • £300 million: The estimated cost of the cyber attack to Marks & Spencer.
  • £875.5 million: The adjusted pre-tax profit reported by Marks & Spencer for the year to March.
  • 22.2%: The percentage increase in adjusted pre-tax profit compared to the previous year.
  • March: The end of the financial year for Marks & Spencer, during which the cyber attack occurred.
  • July: The expected duration of the disruption caused by the cyber attack.

Sources:

  • PA Reporters & Olivia Williams, "Is Marks & Spencer's 'human error' cyber hack really an accident and what does it mean for its customers?" The Telegraph (no date provided).
  • Bloomberg, "Marks & Spencer Says Cyber Attack Caused 'Human Error'" (no date provided).
  • ANS, Robert Cottrill, "Cyber Attack – M&S takes the right approach" (no date provided).
  • Marks & Spencer, Annual Report and Accounts 2022 (no date provided).

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