Cyberattack wipes out Marks and Spencer profit

LONDON: British clothes-to-food retailer Marks and Spencer on Wednesday said a cyberattack that affected its online service sent profits sliding in the group’s first half.

Net profit plunged 98 percent to £6.2 million ($8.1 million) in the six months to late September, compared with profit after tax of £282.1 million one year earlier, M&S said in a statement.

The company halted online sales for about six weeks after hackers targeted the business around Easter, stealing some customer data.