Marks and Spencer boss says operations set to be up and running by August following cyber attack

The Chief Executive of M&S, Stuart Machin, has said he hopes operations will be running “fully” within four weeks. The retailer is continuing to put systems back online following a hugely damaging cyber attack.

Half of its online operations have returned to normal, but there remains work to be done around Click and Collect services. 

Susannah Streeter, Head of Money and Markets at Hargreaves Lansdown, says: ‘’Marks and Spencer is halfway there, but there’s still a lot to get back online before the company can put the cyber attack behind it. 50% of online operations are back up and running, but its popular Click and Collect services remain suspended.”

She adds: “At the company’s AGM, Machin put the latest timeline on a recovery at four weeks. This should mean the retailer will hit August firing on all cylinders once again. Management have previously estimated that it could cost as much as £300 million in lost sales and operational disruption, although it’s likely that this will be mitigated by insurance claims and cost efficiencies made elsewhere.”

“While services have been suspended the company is believed to have used the opportunity to speed up part of its digital transformation plan, as well as ensuring that its IT systems are robust enough to withstand a future attack.”

There will be high hopes that M&S can put this unfortunate chapter behind it, and the early signs are that there is pent up demand, particularly for its summer styles, with many of the popular products sold out online.

Its strong set of annual results showed the retailer was in a resilient position before the cyber attackers infiltrated systems. Sales growth in the fashion and home and beauty division reflected improved customer perceptions of value, quality, and style. Demand for M&S food remains robust, with increased volumes driving growth.

Streeter concludes: “With the underlying performance remaining solid, it bodes well for M&S ahead, but until everything’s back up and running, it’s likely to weigh on investor sentiment. Although shares have been in positive territory today, they remain around 13% lower than the level in mid-April, before the cyber attack took hold.’’

2025 RTIH INNOVATION AWARDS

Cyber security will be a key focus area at the 2025 RTIH Innovation Awards.

The awards, which are now open for entries, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering. 

For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.