Britain's M&S says cyberattack to cost US$400mil

FILE PHOTO: Shoppers walk past a Marks & Spencer store in London, Britain, January 2, 2025. REUTERS/Hollie Adams/File photo

LONDON: British retailer Marks & Spencer said on Wednesday a "highly sophisticated and targeted cyberattack" would cost it about 300 million pounds ($403 million) in operating profit, with disruption set to run into July.

The attack on one of the biggest names in Britain, with 64,000 staff and 565 stores, has shocked the retail sector.