Easter Cyberattack Will Cost British Retailer Marks & Spencer $400 Million

The ‘highly sophisticated and targeted’ hacking over the holiday weekend could take a toll of one-third of the company’s profits in 2025 and 2026.

File photo of a Marks & Spencer store on Oxford Street in London on July 11, 2021.

British retailer Marks & Spencer said the Easter holiday cyberattack that disrupted operations could eliminate about one-third of its annual profits.

In its May 21 first-quarter earnings report, the UK online retail giant projects that the incident will cost the business more than $400 million in operating profit for 2025 and 2026.