Following M&S’s statement last week confirming stolen personal data, Thompsons Solicitors is launching a class action claim against the retailer for exposing customers to the threat of scams due to lacking data protection measures.
The company claimed that other than contact details, date of birth and shopping history, the stolen data did not include payment details, card information, or account passwords, and there was no evidence that the data had been shared.
The ongoing cyber attack, which was disclosed on April 22, resulted in the retailer being unable to process online orders for weeks, and has since driven a 14% drop in M&S’s share price. Now, the company is focused on recovery, restoring its systems, operations and customer proposition over the rest of the first half, with the aim of exiting this period a much stronger business.
Overall, last year was a year of strong performance for the retailer. Profit before tax and adjusting items were up 22.2% at 875 million punds (2023/24: 716 million), which is the highest in over 15 years, reports the company. Food sales were up by 8.7% to 9 billion, and adj. operating profit reached 484 million pounds (2023/24: 388 million). Furthermore, Fashion, Home & Beauty sales were up 3.5% to 4.2 billion pounds, with adj. operating profit reaching 475 million pounds (2023/24: 437.5 million). Going forward, M&S plans to continue with its plan to invest in the key growth areas: store rotation, supply chain and technology.
