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M&S Christmas Hope: Can they win back shoppers?
5 Jan
Summary
- M&S faces a critical Christmas trading update after a cyber attack.
- A cyber strike in spring impacted online sales for nearly two months.
- Shoppers defected to rivals like Next due to the outage.
Marks & Spencer is bracing for a pivotal Christmas trading update this week, hoping to rebound from a damaging cyber attack that occurred last spring. The incident, which took place around Easter, left the retailer's online platform inaccessible for nearly two months. This prolonged disruption led to a loss of customers, with some redirecting their spending to rival fashion groups like Next.
The ability of M&S to recapture these customers during the vital Christmas shopping season is now a major focus for investors. Analysts suggest that if the retailer's festive offerings have not been compelling enough to win back defectors, it could indicate a more significant ongoing problem.
The upcoming trading update will provide insight into M&S's performance during the critical Christmas period. The company's success in recovering from the cyber attack's fallout and retaining its customer base will be closely scrutinized.
