Marks & Spencer Bounces Back: Resumes Online Orders After Cyberattack

British retailer Marks & Spencer has resumed online clothing orders after a 46-day hiatus due to a cyberattack. The breach, which affected M&S's ability to deliver in-store and online, is expected to cost around £300 million in lost profits, though the retailer aims to minimize the impact.

Marks & Spencer, the iconic British retailer, has resumed online clothing sales, following a 46-day break necessitated by a cyberattack. This development comes as a relief, boosting the company's shares by 3.5%, as it reinitiates standard home delivery across England, Scotland, and Wales.

Initially, only bestsellers and new arrivals will be available online, with more products gradually joining the lineup. However, deliveries to Northern Ireland and expanded services like click and collect, next-day delivery, and international orders are scheduled for the coming weeks. The disruption, having begun in April due to issues with contactless pay over Easter, could potentially cost M&S around £300 million in future profits.

The breach, stemming from a third-party contractor's employee being deceived, compromised M&S's digital defenses. This incident also disrupted the company's in-store operations, underscoring the impact of cyber threats faced by prominent retailers worldwide, including Adidas, Cartier, and Victoria's Secret.

(With inputs from agencies.)