Britain's M&S says cyberattack to cost US$400mil

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The story "Britain&#039;s M&amp;S says cyberattack to cost US$400mil" was covered 8 hours ago by The Star, a news publisher based in Malaysia.

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The Star 8h ago

Britain's M&S says cyberattack to cost US$400mil - The Star

Quick Summary:

LONDON: British retailer Marks & Spencer said on Wednesday a "highly sophisticated and targeted cyberattack" would cost it about 300 million pounds ($403 million) in operating profit, with disruption set to run into July.

Analysts think it will get a trading tailwind from M&S' online problems, as will John Lewis, Tesco and Sainsbury's.

Earlier this month, clothing rival Next raised its profit outlook after strong first quarter trading.