M & S Cyberattack to destroy almost a third of the annual income

British retailer Stamps and Spencer On Wednesday, he said that a recent cyberattack that left the food shelves naked and stopped selling on the Internet would destroy almost a third of his annual profit.

The company, known for its clothing, household and food, said the cyberating attack would cost £ 300 million (403 million dollars) last month.

“Our current assessment of the effects of the consequences affects the operating profit of about £ 300 million for 2025/26,” the company said with the annual results.

It adds that financial impact will be reduced by managing costs, insurance and other trading actions, and the cost of the incident will be presented separately as an adjustment.

The predicted effect is equated to 30.5% of the 984.5 million pounds in annual profit before adjusting the items as of March 29, 2025, which were otherwise collected by 17% compared to last year.

The cyberattack, which took place in the Easter holiday, destroyed more than £ 1 billion from the M&S stock value and continues to cause retail violations that, according to the company, may continue in July.

The High Street giant said that “a very complex and purposeful cyber attack” led to a “limited break period”, but the incident also noted the possibility of speeding up the technology transformation program announced last year.

“We will use this window to accelerate our technology transformation plans; the plans we have laid out a year ago. In fact, we will condense a two-year plan in just six months,” said CEO Stewart Mahr during a profit on Wednesday.

The incident has directed shock waves across the industry, and retailers such as cooperative and harrods are also faced with recent attacks.

Maver said he would not comment or paid the sellers in cyberattack, Reuters reports. He also noted that the incident was the result of a “human mistake”, not giving further information.

“Now we will hold the line under this and go to the business as usual,” he said.

Lucy Rumbold, Analyst at Quilter Cheviot stock research, said the cyberattack “obscured” the solid annual results for the seller, but added that most of the influence was already appreciated.

M&S shares increased by 0.68% to 10:23 time in London.

“This cyber -atok emphasizes how harmful such things can be,” Rumbold said. “We now have a clearer picture around the income damage, but the uncertainty about the duration of the attack remains, leaving the campaign vulnerable to further risks in the market.”

Enterprises are increasingly celebrating cyber -pressure as a key risk to their activity. JD Sports On Wednesday, he called a “significant cyber-under”, which delays the sales as “serious but plausible” scenario of lack.