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UK retailer Marks and Spencer mentioned on Wednesday that it expects a £300mn hit to income this 12 months due to a cyber assault final month.
The corporate, whose operations have been disrupted by the hack, mentioned it forecast an influence of £300mn on group working revenue for this monetary 12 months earlier than mitigation, “which will probably be decreased by administration of prices, insurance coverage and different buying and selling actions”.
Chief government Stuart Machin mentioned the incident had been difficult “however it’s a second in time” and “a bump within the street” and there was no change to the corporate’s transformation plans.
