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Britain’s Marks & Spencer says cyberattack to cost $400 million
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British retailer Marks & Spencer said on Wednesday a “highly sophisticated and targeted cyberattack” would cost it about 300 million pounds ($403 million) in operating profit, with disruption set to run into July.
The attack on one of the biggest names in Britain, with 64,000 staff and 565 stores, has shocked the retail sector.
It forced M&S’ online clothing operation offline, left some food shelves bare, and wiped over a billion pounds from the company’s stock market value.
M&S, which was trading strongly before the hack, said online disruption in…
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