Marks & Spencer (M&S) shares have experienced a downturn as the company grapples with the fallout from a cyber attack.
The FTSE 100 retailer has been dealing with the repercussions of the incident, which became public knowledge on Tuesday, leading to disruptions in contactless payments and click and collect services, as reported by .
Today, M&S shares have seen a decline of over 1.5% to approximately 393p, a drop from last week's trading price of 411p.
Following the disclosure that its operations are still encountering difficulties, the group's share price has taken a hit.
Since the previous weekend, customers have faced challenges with certain payment methods and experienced delays in their orders.
Contrary to some reports suggesting cash was not being accepted, M&S has clarified that this is not the case.
On Tuesday, M&S issued an apology to its customers, acknowledging that it had implemented "minor, temporary changes" to its store operations as a precautionary measure for both consumer and business protection.
M&S is 'working hard to restore our services'
In a recent statement, M&S confirmed that these adjustments remain as it addresses the "cyber incident".
The retailer noted that it is currently unable to process contactless payments due to the cyber attack.
Furthermore, M&S has temporarily halted the collection of click and collect orders at its stores and indicated that there "may be some delay" in online delivery orders.
However, M&S reassured that its physical stores are still operational and customers can continue to make purchases via its website and app.
In a statement, the firm announced: "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."
