Marks & Spencer, one of Britain's most iconic retailers, announced on Tuesday that some of its stores are experiencing shortages of certain food products due to an ongoing "cyber incident."
Last Friday, M&S suspended clothing and homeware orders on its website and app after encountering issues with contactless payment systems and click-and-collect services over the Easter holiday weekend.
A spokesperson for the company explained that, as part of its "proactive management of the incident," some systems were temporarily taken offline. "As a result, we currently have pockets of limited availability in some stores," they said, adding that efforts are underway to restore normal stock levels across all locations.
While M&S has not specified the exact nature of the cyber incident, cybersecurity experts suggest the decision to take systems offline points to a likely ransomware attack. The company has not indicated when online orders will resume.
Founded 141 years ago, M&S operates around 1,000 stores across the UK and typically generates about a third of its clothing and home sales online. Analysts warn the company is likely to face a short-term hit to profits.
Despite the disruption, M&S shares closed nearly 1% higher on Tuesday, though they have fallen about 6% over the past week.
Before the cyber attack, M&S’s food division had been performing strongly. According to market research firm Kantar, grocery sales at M&S rose 14.4% year-on-year in the 12 weeks leading up to April 20. Photo by Wpcpey, Wikimedia commons.