PA MediaMarks & Spencer has said disruption from a major cyber attack is expected to continue through to July and cost the company around £300 million.
The high street giant halted orders on its website and saw empty shelves after being targeted by hackers around the Easter weekend.
The retailer revealed on Wednesday morning that online sales and profits in its fashion, home and beauty business have been “heavily impacted”.
Meanwhile, food sales were affected by reduced availability but the business stressed this is “already improving”.
M&S said the incident is expected drag its group operating profits down by around £300 million this year, but expects this to be reduced through cost management, insurance and other reactions.
Chief executive Stuart Machin said: “It has been challenging, but it is a moment in time, and we are now focused on recovery, with the aim of exiting this period a much stronger business.
“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.”
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