M&S Cyberattack Shakes British Retail Industry

Marks & Spencer is grappling with a major cyberattack that has halted its online clothing and home orders, costing millions and impacting stock market value. This incident highlights the sophistication of modern cyber threats affecting British firms. Authorities are investigating while M&S works to resume normal operations.

Britain's renowned retailer, Marks & Spencer, is enduring a significant cyberattack, stopping its online clothing and home product orders, coinciding with a heatwave that boosts demand.

This cyber incident has slashed M&S's market value by £700 million, with warnings from the National Cyber Security Centre deeming it a "wake-up call." Affected also are the Co-op Group and Harrods, indicating a broader threat.

Given the suspected prolonged impact of the breach, the M&S chief publicly apologized, while the cyber threats force retailers to invest heavily in defensive measures.

(With inputs from agencies.)