M&S sees profit growth return after cyberattack slump
M&S reported a 24 percent profit drop to 671.4 million pounds after a cyberattack. It expects a return to growth this year despite facing higher input costs.
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MARKS & SPENCER GROUP PLC expects profit growth to resume this year following a 24% slump caused by a disruptive cyberattack. The retailer entered the new fiscal year with a plan to improve product availability and service levels across the United Kingdom. Investors are gauging if the recovery plan can offset rising input costs and a 11% share price decline over the last month.
