M&S: Navigating Cyber Turbulence Amid Retail Recovery

British retailer Marks & Spencer faces challenges due to a cyber incident affecting its food supply in stores and online operations. Previously thriving in food sales, M&S is working on restoring systems, facing inevitable short-term financial impacts. Despite this, M&S's grocery spending saw significant growth.

British retailer Marks & Spencer reported on Tuesday that some of its stores are experiencing shortages of certain food items due to a 'cyber incident' impacting its operations. The well-known business stopped accepting orders for clothing and home goods via its website and app last Friday, following issues with its contactless payment and click-and-collect services over the Easter weekend.

An M&S spokesperson stated that, as part of proactive incident management, the company has taken some systems offline temporarily. 'As a result, we currently have pockets of limited availability in some stores. We are working hard to restore normal supply levels across our estate,' the spokesperson explained.

While M&S has not disclosed specific details of the cyber incident, cybersecurity experts suggest it likely involves ransomware, given the decision to take systems offline. The company has not provided an expected timeline for resuming online orders. Despite this disruption, M&S's food business had been performing significantly well, with grocery spending up 14.4% year-on-year as of April 20.

(With inputs from agencies.)