Marks and Spencer Group PLC's (LSE:MKS) shares jumped 2.5% as the retailer finally fully restored its Click & Collect service, almost four months after a crippling cyberattack knocked out its online operations.
The attack, traced to hacking groups DragonForce and Scattered Spider, hit in late April, shutting down online orders, contactless payments, and Click & Collect. Home delivery orders bounced back after six weeks, but Click & Collect was the final piece of the puzzle.
M&S estimates the disruption has cost around £300 million in lost profits, though it hopes to claw back about half of that. Personal customer data was also stolen, adding to the fallout.
Chair Archie Norman called the attack “traumatic” and “an out-of-body experience,” praising staff for their relentless work to keep things afloat. The share price bounce suggests investors are relieved the worst is over... for now.
The shares rose 7.1p to 339.1p.