Merck & Company (MRK): Building Strength, Paving the Way for Potential Upside
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Merck & Company (MRK): Building Strength, Paving the Way for Potential Upside
31 Oct 2025, 11:49
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Cyberattack disrupts online shopping as retailer warns recovery could stretch into July
Website Goes Down Following Cybersecurity Crisis
Marks & Spencer’s (M&S) website temporarily crashed in the early hours of Wednesday—just hours after revealing a £300 million hit to profits from last month’s ransomware attack.
Visitors were met with a holding page stating the site was unavailable. By 7am, browsing functionality had been restored, with M&S explaining that overnight updates were underway.
However, online shopping remains suspended and is not expected to resume fully for several weeks.
Recovery Timeline and Customer Impact
The retailer warned that full operational recovery may not be complete until July. Chief Executive Stuart Machin sought to reassure stakeholders, saying:
“We are on the road to recovery. This is a bump in the road, and we will come out of this stronger.”
Online services have been down since 22 April, significantly disrupting customer transactions and business operations.
Cyberattack Linked to Scattered Spider Group
The incident is widely believed to be the work of the Scattered Spider hacking group, which has also been linked to similar attacks on The Co-op and Harrods.
M&S confirmed that no payment or card details were compromised, and passwords remain secure. However, the breach did include personal information such as names, phone numbers, and addresses for some customers.
Market Reaction and Business Impact
The retailer’s share valuation has dropped by over £1 billion since the breach, reflecting investor concern about the cyberattack’s financial and reputational toll.
Despite this, M&S remains committed to its long-term transformation strategy.
Statement from the CEO
Speaking to analysts, Stuart Machin reaffirmed the company's resilience:
“We’re continuing with our plan to reshape M&S for customers, colleagues, and shareholders.”
He stressed that the company will emerge from this crisis in a better position to meet future challenges.
Final Thoughts
As one of Britain’s most recognisable retailers, M&S is under pressure to restore public confidence and resume full operations swiftly. With cyber threats on the rise, the incident highlights growing vulnerabilities across the retail sector.
Sources: (SKY.com, BBC.co.uk)