Marks & Spencer (M&S) experienced a significant cyberattack in April, reportedly orchestrated by the group known as DragonForce, resulting in substantial financial losses and operational disruptions. The BBC understands the breach occurred via a compromised third-party vendor with access to M&S systems.
The attack caused millions of pounds in lost sales, forcing M&S to halt online orders for over three weeks. While the retailer refrained from commenting on specifics, citing improved stock availability, Bank of America analysts estimate weekly sales losses exceeding £40 million since the Easter weekend incident.
DragonForce, previously linked to attacks on the Co-op and an attempted breach at Harrods, claimed responsibility. M&S’s upcoming annual results announcement on Wednesday will undoubtedly be dominated by this security incident and its financial repercussions.
The retailer’s response involved proactively shutting down numerous IT operations, impacting core systems including online sales – a crucial channel representing roughly one-third of clothing and homeware revenue. The restoration of full online functionality remains a primary challenge.
M&S subsequently confirmed the theft of some customer data, including names, addresses, and order histories, although it stated that card details were not compromised due to its security protocols. The Co-op also suffered a related attack, experiencing payment issues, stock shortages, and data breaches.
The incident highlights the vulnerability of large retailers to sophisticated cyberattacks, especially through third-party access points. The long-term effects on M&S’s reputation and financial performance remain to be seen. The investigation into the attack and its impact continues.
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