Following cyber security incidents hitting Co-op, Harrods and M&S, the retailers are still facing delivery delays, inventory issues and data concerns days (and weeks) after the attacks.
Co-op
Convenience retailer Co-op initially took parts of its IT systems offline on 30 April as a proactive measure to disrupt a hacking attempt, with “minor disruption” to its call centre and back office operations as a result.
On 02 May, it then admitted that attackers had stolen personal data from a “substantial” number of customers. In a letter to members, Co-op said a limited amount of member data had been compromised.
Shirine Khoury-Haq, CEO of Co-op, said: “This is obviously extremely distressing for our colleagues and members, and I am very sorry this happened.”
The retailer is working closely with the National Cyber Security Centre (NCSC) and National Crime Agency to investigate the breach. It also urged customers to remain vigilant against suspicious emails or phone calls.
It has now apologised for ongoing product shortages across its store network. Fresh categories such as fruit, vegetables, meat and dairy have been hit due to the cyber incident’s impact on delivery systems.
M&S
As M&S now enters the third week of disruption caused by a cyber attack, the high street giant has been forced to pause lunchtime and dine-in meal deal offers.
As the retailer battles with stock availability, which saw empty selves reported on social media last week, it has taken the choice to suspend several of its popular meal deal offers due stock availability issues.
M&S initially faced contactless payment issues, and problems with Click & Collect services, after a cyber attack – which is now being investigated by The Metropolitan Police.
Hacking group Scattered Spider has been linked to the attack on M&S, it remains uncertain whether the retailer was the target of a ransom demand.
While M&S has not confirmed the scale of the breach, or its potential impact, analysts predict substantial financial losses due to ongoing disruptions, potentially reaching tens of millions of pounds. Shore Capital estimates weekly losses of up to £25mn in online clothing sales and an additional £15mn for every 10% of food products unsold due to shortages.
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