M&S Online Business to Be Fully Operational by End of Month, CEO Confirms

Marks & Spencer’s online business is expected to be fully operational within the next four weeks following a cyber-attack that disrupted its operations. The retailer had to halt customer orders through its website for nearly seven weeks, but has now resumed them. However, click-and-collect services are still suspended, and the full range of products is not yet available online.

Stuart Machin, the M&S chief executive, informed shareholders at the annual general meeting in London that the company aims to have its online operations fully restored within the next four weeks. The focus will then shift to replenishing the Castle Donington warehouse, the primary distribution center for clothing and homeware.

Despite the setback caused by the cyber-attack, M&S is working to regain lost ground to competitors like Next, Zara, and H&M. The company anticipates a £300 million impact on profits this year as a result of the incident.

Archie Norman, the company’s chair, acknowledged the need to win back customers lost to competitors and highlighted plans to utilize the Sparks loyalty card to re-engage customers. Machin emphasized the importance of improving customer service and addressing customer concerns.

The company’s share price has declined by about 13% since mid-April, prior to the cyber-attack. Analysts are optimistic about M&S’s ability to recover, noting strong demand for its products and resilient performance before the cyber-attack.

All resolutions were approved by shareholders at the recent meeting, except for one related to disclosing information about pay for contracted staff and implementing the real living wage across the workforce.

According to the source: The Guardian.