{"id":1676,"date":"2025-06-25T10:00:46","date_gmt":"2025-06-25T10:00:46","guid":{"rendered":"https:\/\/www.tsfactory.com\/forums\/?p=1676"},"modified":"2025-06-25T10:00:46","modified_gmt":"2025-06-25T10:00:46","slug":"financial-impact-of-cyber-attacks-on-uk-retailers-laid-bare-in-new-report","status":"publish","type":"post","link":"https:\/\/www.tsfactory.com\/forums\/blog\/financial-impact-of-cyber-attacks-on-uk-retailers-laid-bare-in-new-report\/","title":{"rendered":"Financial impact of cyber attacks on UK retailers laid bare in new report"},"content":{"rendered":"<p>Cyber attacks against M&amp;S and Co-op earlier this year cost anywhere between \u00a3270 million to \u00a3440m, according to\u00a0<a class=\"hawk-link-parsed\" href=\"https:\/\/cybermonitoringcentre.com\/2025\/06\/20\/cyber-monitoring-centre-statement-on-ransomware-incidents-in-the-retail-sector-june-2025\/\" target=\"_blank\" rel=\"noopener\" data-analytics-id=\"inline-link\" data-url=\"https:\/\/cybermonitoringcentre.com\/2025\/06\/20\/cyber-monitoring-centre-statement-on-ransomware-incidents-in-the-retail-sector-june-2025\/\" data-hl-processed=\"none\" data-custom-tracking-id=\"1260723156972271416\" data-hawk-tracked=\"hawklinks\" data-google-interstitial=\"false\" data-label=\"analysis by the Cyber Monitoring Centre\"><u>analysis by the Cyber Monitoring Centre<\/u><\/a>.<\/p>\n<p>In April, British retailers were targeted with a series of ransomware attacks, with\u00a0<a class=\"hawk-link-parsed\" href=\"https:\/\/www.itpro.com\/security\/marks-and-spencer-cyber-incident-update\" data-analytics-id=\"inline-link\" data-before-rewrite-localise=\"https:\/\/www.itpro.com\/security\/marks-and-spencer-cyber-incident-update\" data-url=\"https:\/\/www.itpro.com\/security\/marks-and-spencer-cyber-incident-update\" data-hl-processed=\"none\" data-custom-tracking-id=\"1048830118806553450\" data-hawk-tracked=\"hawklinks\" data-google-interstitial=\"false\" data-label=\"M&amp;S taking down online sales\"><u>M&amp;S taking down online sales<\/u><\/a>\u00a0and later admitting\u00a0<a class=\"hawk-link-parsed\" href=\"https:\/\/www.itpro.com\/security\/cyber-attacks\/m-and-s-customer-personal-data-stolen\" data-analytics-id=\"inline-link\" data-before-rewrite-localise=\"https:\/\/www.itpro.com\/security\/cyber-attacks\/m-and-s-customer-personal-data-stolen\" data-url=\"https:\/\/www.itpro.com\/security\/cyber-attacks\/m-and-s-customer-personal-data-stolen\" data-hl-processed=\"none\" data-custom-tracking-id=\"7413836919874100085\" data-hawk-tracked=\"hawklinks\" data-google-interstitial=\"false\" data-label=\"customer data was stolen\"><u>customer data was stolen<\/u><\/a>.\u00a0<a class=\"hawk-link-parsed\" href=\"https:\/\/www.itpro.com\/security\/co-op-cyber-attack\" data-analytics-id=\"inline-link\" data-before-rewrite-localise=\"https:\/\/www.itpro.com\/security\/co-op-cyber-attack\" data-url=\"https:\/\/www.itpro.com\/security\/co-op-cyber-attack\" data-hl-processed=\"none\" data-custom-tracking-id=\"3666036779739739617\" data-hawk-tracked=\"hawklinks\" data-google-interstitial=\"false\" data-label=\"Co-op shut down\"><u>Co-op shut down<\/u><\/a>\u00a0aspects of its own IT system to limit disruption when it was attacked in a similar way.<\/p>\n<aside class=\"hawk-base hawk-processed\" data-block-type=\"embed\" data-render-type=\"fte\" data-skip=\"dealsy\" data-widget-type=\"seasonal\" data-widget-id=\"8e2e87f6-82b0-4601-80da-7c19a2022d2d\" data-result=\"missing\"><\/aside>\n<p>Alongside those two,\u00a0<a class=\"hawk-link-parsed\" href=\"https:\/\/www.itpro.com\/security\/cyber-attacks\/harrods-cyber-attack\" data-analytics-id=\"inline-link\" data-before-rewrite-localise=\"https:\/\/www.itpro.com\/security\/cyber-attacks\/harrods-cyber-attack\" data-url=\"https:\/\/www.itpro.com\/security\/cyber-attacks\/harrods-cyber-attack\" data-hl-processed=\"none\" data-custom-tracking-id=\"9674874352958038976\" data-hawk-tracked=\"hawklinks\" data-google-interstitial=\"false\" data-label=\"Harrods\"><u>Harrods<\/u><\/a>\u00a0and other retailers were impacted by cyber incidents, but the CMC didn&#8217;t include them in its assessment due to a lack of information. The attacks are believed to be the work of\u00a0<a class=\"hawk-link-parsed\" href=\"https:\/\/www.itpro.com\/security\/cyber-crime\/scattered-spider-group-marks-and-spencer\" data-analytics-id=\"inline-link\" data-before-rewrite-localise=\"https:\/\/www.itpro.com\/security\/cyber-crime\/scattered-spider-group-marks-and-spencer\" data-url=\"https:\/\/www.itpro.com\/security\/cyber-crime\/scattered-spider-group-marks-and-spencer\" data-hl-processed=\"none\" data-custom-tracking-id=\"1245869854146967537\" data-hawk-tracked=\"hawklinks\" data-google-interstitial=\"false\" data-label=\"&quot;Scattered Spider&quot; hackers\"><u>&#8220;Scattered Spider&#8221; hackers<\/u><\/a>.<\/p>\n<p>The mooted figures include the financial impact on M&amp;S and Co-op, as well as their partners and suppliers, taking in lost sales as well as incident response, IT restoration and legal costs.<\/p>\n<p>&#8220;Although both of the targeted companies suffered business disruption, data loss, and costs for incident response and IT rebuild, business disruption drives the vast majority of the financial cost,&#8221; the CMC said in a statement.<\/p>\n<p>M&amp;S managed to return to limited online sales late last month after several weeks of disruption. According to the CMS, the financial impact of the incident amounted to around \u00a31.3 million in losses per day.<\/p>\n<p>&#8220;This is less than the total loss in turnover as it takes into account reductions in orders, stock that can be resold later, and not having to pay other variable costs,&#8221; CMC said.<\/p>\n<p><a href=\"https:\/\/www.itpro.com\/security\/cyber-attacks\/cyber-attacks-on-uk-retailers-financial-impact\">Read the Full Story Here<\/a><\/p>\n<p>Source: IT Pro<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cyber attacks against M&amp;S and Co-op earlier this year cost anywhere between \u00a3270 million to \u00a3440m, according to\u00a0analysis by the Cyber Monitoring Centre. In April, British retailers were targeted with a series of ransomware attacks, with\u00a0M&amp;S taking down online sales\u00a0and later admitting\u00a0customer data was stolen.\u00a0Co-op shut down\u00a0aspects of its own IT system to limit disruption [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1618,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Financial impact of cyber attacks on UK retailers laid bare in new report - Community<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tsfactory.com\/forums\/blog\/financial-impact-of-cyber-attacks-on-uk-retailers-laid-bare-in-new-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial impact of cyber attacks on UK retailers laid bare in new report - Community\" \/>\n<meta property=\"og:description\" content=\"Cyber attacks against M&amp;S and Co-op earlier this year cost anywhere between \u00a3270 million to \u00a3440m, according to\u00a0analysis by the Cyber Monitoring Centre. In April, British retailers were targeted with a series of ransomware attacks, with\u00a0M&amp;S taking down online sales\u00a0and later admitting\u00a0customer data was stolen.\u00a0Co-op shut down\u00a0aspects of its own IT system to limit disruption [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tsfactory.com\/forums\/blog\/financial-impact-of-cyber-attacks-on-uk-retailers-laid-bare-in-new-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Community\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TSFactoryLLC\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-25T10:00:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tsfactory.com\/forums\/wp-content\/uploads\/2025\/04\/marksandspencer.png\" \/>\n\t<meta property=\"og:image:width\" content=\"225\" \/>\n\t<meta property=\"og:image:height\" content=\"225\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Chelsie Wyatt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TSFactoryLLC\" \/>\n<meta name=\"twitter:site\" content=\"@TSFactoryLLC\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Chelsie Wyatt\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tsfactory.com\/forums\/blog\/financial-impact-of-cyber-attacks-on-uk-retailers-laid-bare-in-new-report\/\",\"url\":\"https:\/\/www.tsfactory.com\/forums\/blog\/financial-impact-of-cyber-attacks-on-uk-retailers-laid-bare-in-new-report\/\",\"name\":\"Financial impact of cyber attacks on UK retailers laid bare in new report - 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