Marks & Spencer cyberattack enters scond week, Exposing Risks for UK Retail

British retail giant Marks & Spencer (M&S) is grappling with the aftermath of a major cyberattack that has now entered its second week, leaving customers unable to place clothing and home orders online. The disruption comes at a critical moment for the company, as it was set to capitalize on record-breaking spring temperatures and new season launches.

Since the cyberattack was disclosed last week, M&S has seen its market value drop by approximately £700 million ($930 million), intensifying pressure on its leadership and IT security infrastructure. The incident has also sent shockwaves through the UK’s retail sector, with high-profile names like Co-op Group and luxury department store Harrods reporting smaller breaches in recent days.

A hit to digital sales

Marks & Spencer, a 141-year-old institution on the British high street, suspended its online clothing and home operations on April 25 following technical issues that also impacted contactless payments and click-and-collect services over the Easter weekend. The timing could hardly be worse, as around one-third of M&S’s sales in these categories come through digital channels.

On Friday, CEO Stuart Machin issued a fresh apology to customers via email but stopped short of providing a timeline for full service restoration. “We are working day and night to manage the current cyber incident and get things back to normal for you as quickly as possible,” Machin wrote.

While M&S has yet to disclose the financial damage, analysts agree a short-term profit hit is inevitable, especially with warmer weather driving seasonal shopping demand.

A broader pattern of UK cyber threats

The attack on M&S is the latest in a growing wave of cyber incidents targeting British businesses and institutions. Last year, London’s transport authority TfL suffered a cyberattack that locked customers out of their accounts for nearly three months. Similarly, a blood test processing company in the city endured over three months of operational chaos after a breach.

This recent string of attacks highlights what experts warn is an escalating cyber threat landscape. Helen Dickinson, CEO of the British Retail Consortium, noted, “Cyberattacks are becoming increasingly sophisticated, forcing retailers to invest hundreds of millions of pounds annually in security.”

The UK’s National Cyber Security Centre (NCSC) and Metropolitan Police’s Cyber Crime Unit are currently investigating the M&S incident, with the NCSC’s CEO Richard Horne calling it “a wake-up call to all organisations.”

Regulatory pressure mounts

Labour MP Matt Western, who chairs Parliament’s Joint Committee on the National Security Strategy, urged the government to treat the issue with greater urgency. “As the Government concludes its consultation on proposals to counter ransomware, I hope its response treats these threats with the seriousness they clearly deserve,” he stated.