M&S will publish its annual outcomes for the 12 months to the top of March 2025 on Wednesday (21 Might).
The outcomes don’t cowl the interval after the cyber-attack, which was disclosed on 22 April, nevertheless the retailer is predicted to tell the market in regards to the monetary affect of the hack and replace on when it expects on-line operations to renew.
The cyber-incident led the retailer to droop its on-line orders on 23 April, that means it’s dropping a median £3.4m in income a day, based mostly on its 2023/24 figures. The assault additionally left M&S struggling to maintain cabinets stocked in some meals shops, which is prone to scale back gross sales additional.
In a tentative estimate, analysts at Barclays predict a £200m value from the cyber-attack in 2025/26, offset by £100m of insurance coverage payout.
The analyst observe reads: “We hope that M&S will present far more element in regards to the doubtless trajectory of its restoration. We do stay involved that the timescale for the state of affairs being absolutely recovered may stay appreciable.”
It added that the M&S funding case stay intact, due to its “sturdy gross sales momentum, effectivity alternatives and money era”, and the quantity of market cap destroyed over latest weeks “may be very prone to be greater than the precise worth destroyed”.
M&S shares have tumbled 12% for the reason that assault a month in the past to 360p as of 19 Might, wiping £1bn off the worth of the enterprise.
In the meantime, Susannah Streeter, head of cash and markets at Hargreaves Lansdown, stated: “Trend gross sales are prone to be the most important casualty, notably because the assault has come in the course of the spell of heat climate when summer season ranges would ordinarily be piling up in digital baskets.
“Traders can be hoping that by the point the outcomes land, on-line operations can be up and operating once more, nevertheless it may find yourself being one other bout of wishful considering.”
An analyst observe from Investec stated its want checklist from the replace embrace “which programs are nonetheless affected, how lengthy it could take to get operations up and operating, and a spread for the doubtless monetary affect”.
