M&S profits halved after cyber attack cost company £100m

M&S profits halved after a cyber hack that affected online and in-store operations, leaving shelves empty. The British retailer received £100m in insurance to combat the incident. Despite the setback, M&S expects profits to recover and remain in line with previous years, citing resilience in its homewares, fashion, and food sectors. Next, a competitor, saw increased sales post-cyber attack as consumers turned to alternative retailers for their shopping needs.