Marks & Spencer not yet fully recovered from cyberattack

Marks & Spencer (M&S) is showing signs of recovery following last year’s severe cyberattack: revenue is rising sharply and profit figures are improving, though they have not yet returned to pre-hack levels. The fashion division, in particular, still has work to do.

Challenging apparel market

M&S’s revenue rose 16.2% in the first half of the year to 9.26 billion pounds (11.10 billion euros), while adjusted pre-tax profit more than doubled to 403.2 million pounds (483.15 million euros), exceeding expectations. However, profits remain below the level seen in the first half of the year before the cyberattack that hit the retailer in April of last year, which paralyzed the retailer’s online store for more than six weeks.