M&S: Shares at FTSE 100 retailer fall as cyber attack hits customers
Shares in Marks & Spencer (M&S) have continued to fall as its battle against a cyber attack wages on.
The FTSE 100 retailer has said the incident, which was disclosed to the public on Tuesday, has impacted contactless payments and click and collect orders.
Shares in M&S have fallen by more than 1.5 per cent so far today to around 393p. That total is down from the 411p price its shares were changing hands at last week.
The group’s share price dip comes after it revealed overnight that its operations were continuing to face disruption.
Customers have reported issues making some payments and delays to orders since last weekend.
Despite reports that some stores were not accepting cash, M&S stressed that this is not the case.
On Tuesday, the high street retail giant apologised to shoppers as it confirmed it had to make “minor, temporary changes” to its store operations to protect customers and the business.
M&S ‘working hard to restore our services’
M&S said in a fresh update that these changes are still in place as it continues to manage the “cyber incident”.
The retailer said it is “not currently processing contactless payments” due to the cyber attack.
It added that it has also paused the collection of click and collect orders in stores and highlighted there “may be some delay” to online delivery orders.
But it added that stores are still open and customers can continue to shop through its website and app.
In a statement, the company said: “We have made the proactive decision to move some of our processes offline to protect our colleagues, partners, suppliers and our business.
“We are incredibly grateful for the understanding and support that our customers, colleagues, partners and suppliers have shown.
“We are working hard to restore our services and minimise disruption and are being supported by industry-leading experts.”