M&S shares slump after online orders suspended – Daily Business

High street retailer Marks and Spencer (M&S) has seen its share value slump after suspending all online orders as it continues to be affected by the fallout from a recent cyber attack.

Customers experienced problems with click and collect orders over the Easter weekend due to the incident, with “minor, temporary changes” to store operations earlier this week including the suspension of contactless payments and pausing the collection of click and collect orders.

The disruption has continued, with the FTSE 100 company issuing a statement to the London Stock Exchange, revealing that further measures have been taken.

Shares slumped by nearly 5% after news broke of the online order suspension.

“As part of our proactive management of the incident, we have made the decision to pause taking orders via our UK & Ireland websites and apps and some M&S International operated websites,” the statement said.

“The M&S product range is available to browse online, and our stores remain open and ready to welcome and serve customers.

“We continue to manage the incident proactively and the M&S team – supported by leading experts – is working extremely hard to restore online operations and continue to serve customers well.

“We previously informed customers that there was no need to take any action. That remains the case, and we will let them know, if the situation changes.

“We remain grateful for the support that our customers, colleagues, partners and suppliers have shown during this time and will provide further updates, as appropriate.”