The retailer said its online sales and profits, particularly in fashion, home and beauty businesess have been “heavily impacted” by what it described as a “highly sophisticated” attack.
Its online clothing and home sales account for more than £3m sales a day have been suspended for nearly a month and may be online for up to a further two months. The attack wiped more than £1bn off the value of the company.
“This incident is a bump in the road, and we will come out of this in better shape, and continue our plan to reshape M&S for customers, colleagues and shareholders,” he said.
“There is no change to our strategy and our longer-term plans to reshape M&S for growth and, if anything, the incident allows us to accelerate the pace of change as we draw a line and move on.”
Police investigating the M&S attack together with other retailers including the Co-op said they are focussing on a group of young cyber criminals based in the UK and US known as Scattered Spider.
It is a major setback for the retailer that had been trading strongly before the attack, reporting a pre-tax profit of £875.5m, the highest in 15 years and up 22 per cent on the previous year.
The group was saw its food arm deliver stronger profits after sales increase by 8.7 per cent to £9bn. M&S revenues grew by 6 per cent to £13.8 billion as a whole for the year, as fashion, home and beauty sales grew by 3.5 per cent.
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