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Marks and Spencer has published its Financial results ending 29th March 2025. The financial impact of the companies on-going cyber attack is accounted for in 2025/ 2026 operating profit. M&S expects a £300 million incident impact to operating profit, before cost mitigation, insurance and trading actions are taken into account.
In the section ‘CYBER INCIDENT AND OUTLOOK’, M&S……are seeking to make the most of the opportunity to accelerate the pace of improvement of our technology transformation and have found new and innovative ways of working.’
Today, yesterday, last year cyber is/ was one of if not the biggest risk that boards face. It is an expensive, time consuming and knowledge intensive risk to manage. Demonstrated through every hack that reaches the media. It is a risk that is so well publicised, it is not possible to claim that it was not a risk considered at the board table, nor a risk that has no plan to manage, both ‘Left’ or ‘Right’ of bang.
It is interesting that the incident has only now raised opportunities for improvement for the company. Could you find a better way to account for £300 million, to identify opportunities for improvement for technology and a cybersecurity program?
One must remember that the financial impact to M&S is not the total costs of the incident of the incident to society, the company and the retail sector.
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@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan Bryan Foss
Veritas GRC
#cybersecurity #cyberriskmanagement #cyberresillience
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