For the first time since a devastating cyber attack wiped nearly £700m off its valuation, Marks and Spencer (M&S) shares have seen an uptick.
The high street retailer's share price took a nosedive from 411p to 383p in the past week following the initial disclosure of the cyber attack last Tuesday, as reported by .
The digital assault initially disrupted contactless payments and click-and-collect orders.
By Friday, M&S had halted order placements through its website and app, also revealing that some of its international websites had temporarily stopped accepting orders.
However, despite the ongoing impact of the cyber attack, M&S's share price has experienced its first increase since the crisis began.
This comes after M&S informed some customers yesterday that it was uncertain when online order placements would resume.
Cyber chaos
Approximately 200 agency workers at the company's primary online distribution centre in Leicestershire have been instructed to remain at home.
Last year, M&S generated a whopping £1.27bn from online sales of clothing and homeware.
In its most recent public statement on the cyber attack, released to the London Stock Exchange on Friday, M&S stated: "As part of our proactive management of the incident, we have made the decision to pause taking orders via our º£½ÇÊÓƵ & Ireland websites and apps and some M&S International operated websites."
"The M&S product range is available to browse online, and our stores remain open and ready to welcome and serve customers."
"We continue to manage the incident proactively and the M&S team – supported by leading experts – is working extremely hard to restore online operations and continue to serve customers well."
"We previously informed customers that there was no need to take any action. That remains the case, and we will let them know, if the situation changes."
"We remain grateful for the support that our customers, colleagues, partners and suppliers have shown during this time and will provide further updates, as appropriate."
