Marks & Spencer (MKS.L) suspended online trading temporarily in the UK and Ireland after a last-week cyber-attack. The action, announced on Friday, reduced the British retailer's shares by 5%.

Popular for its clothing, homeware, and food, Marks & Spencer said the move was a "proactive management" response to the incident. The firm said its employees, with the support of leading cyber experts, work around the clock to rebuild its internet services in a secure way.

In a post on X (formerly Twitter), Marks & Spencer apologized for the disruption it has caused to customers. It also promised that its physical stores remain open for shopping, as some international websites are also suspending orders.

Description of the Incident

Marks & Spencer first revealed the cyber-attack last week, stating that it would lead to some short-term changes to store operations. Customers subsequently experienced contactless payment issues and click-and-collect delays.

The Marks & Spencer cyber attack online orders has raised alarm, especially given that nearly a third of the company's clothing and home business is conducted online. The prolonged downtime will potentially be a threat to revenue if online shopping is not reinstated in the near future.

The National Crime Agency stated that it had knowledge of the incident and was working with the National Cyber Security Centre to help Marks & Spencer with an investigation.

Marks & Spencer's Response

As part of its recovery process, Marks & Spencer has also gone the precautionary route of suspending all online and app orders. This is to safeguard customers' details and avoid any further risks as the company recovers its digital systems.

"We have a talented team — supported by leading cyber experts — working tirelessly to get online and app shopping back to full service," Marks & Spencer announced in its official statement.

Although the Marks & Spencer cyber attack online orders procedure is infuriating for consumers, the shops of the company are open for business as usual. This means customers are still capable of obtaining food, fashion, homeware, and beauty products from stores while digital infrastructure is repaired.

A Watershed Moment for Retail Cybersecurity

UK high street favorite Marks & Spencer recorded around £13 billion in revenues last year in all its business divisions. With increasingly more and more transactions being made online, there has never been a greater need for proper cybersecurity measures.

The Marks & Spencer cyber attack online orders incident highlights the weaknesses that even big retailers must contend with today. While the scope of the attack is not yet out for public scrutiny, that the company acted swiftly by suspending services is a commendable indication of its care for protecting customers.

At the same time, Marks & Spencer is encouraging consumers to continue shopping in store and assuring that it will let everyone know when online and app shopping is back to full service.