Retail Giant Faces $403 Million Hit After Cyberattack Exposes Customer Data

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Retail Giant Faces $403 Million Hit After Cyberattack Exposes Customer Data - Benzinga

Quick Summary:

What Happened: According to a note from the company, the cyberattack has taken a toll on M&S’s fiscal year 2025-2026 operating budget, with a projected $403 million dip in profits “before cost mitigation, insurance and trading actions.”

In the statement, CEO Stuart Machin revealed that the company has been grappling with the cyberattack for several weeks, leading to a “limited period of disruption.” Despite the hurdles, the team has been working round the ...

British retail giant Marks & Spencer is bracing for losses exceeding $400 million following a severe cyberattack, which has disrupted its business and exposed sensitive customer data.