Marks & Spencer published its trading results this morning and said it will take an estimated £300m hit to profits this year from the damaging cyber-attack that it expects will disrupt its online business into July.
The UK’s biggest clothing retailer, which also sells food and homeware, has been battling to recover for a month since its IT systems were hit over the Easter weekend. The attack emerged days before similar cyber-attacks were reported against the Co-op and Harrods, and even the Department of Justice’s Legal Aid section.
At the same time, the boss of HSBC Ian Stuart has said the threat of cyber-attacks “keeps me awake at night” and that cyber-security was “top of the agenda” for his banking group.
The National Cyber Security Centre (NCSC) has urged businesses to review their security protocols and ensure they have the right measures in place. Cyber resilience is no longer optional – it’s essential for protecting customer trust, financial stability, and long-term success.
So, what’s the message?
Every business needs to raise resilience and cybersecurity to the tops of their operational agendas and speak to a managed service provider, such as Equity. We will provide a free review of, and recommendations for your cybersecurity.