Latest news with #NielsenIQ
Times
3 days ago
- Business
- Times
M&S food sales slow after cyberattack
Sales growth slowed in Marks & Spencer's food business over the past three months as it dealt with the fallout from a crippling cyberattack. The FTSE 100 retailer reported sales in its food arm rose 9.1 per cent year-on-year over the 12 weeks to June 14, according to NielsenIQ, the research company. That represented a slowdown from 10.8 per cent growth in the three months to May 17 and 14.7 per cent in the report before that, reflecting the disruption that followed a cyberattack in April. Though M&S's market share ticked up ten basis points on the year to 3.7 per cent, it was down from the 3.8 per cent reading in last month's report. M&S was hit by a cyberattack over Easter weekend that initially affected its online services, including click and collect and contactless payments. The high-street stalwart paused online orders for almost two months, including clothes deliveries, and also took other systems offline. That reduced food availability and also resulted in higher waste and logistics costs. The company has since restored its operations. The group resumed taking online orders for clothing lines on June 10 after a 46-day suspension. However, M&S estimated that the attack would hit profits by about £300 million, although it is expected to claim £100 million from insurers alongside other mitigations. Clive Black of Shore Capital, the broker, noted 'commendable momentum' from the retailer despite the slowdown. 'No doubt there was a particular dip in momentum at the end of April and into May, but it looks like the label is returning to outperformance again,' he said. 'Well done M&S, however, on seeing through a still strong performance in the face of immense malevolent challenge.' • Retail giants 'face £600m bill' as new business rates bite Most of NielsenIQ's data echoed the findings of rival researcher Kantar's report on Tuesday, with robust performances from market leader Tesco, number two player Sainsbury's and online supermarket Ocado. However, M&S is not fully included in Kantar's market share data set. Black said: 'M&S, despite disruption, shows up well whilst Sainsbury & Tesco continue to gain share. The market is, as ever, competitive, but also rational; no price war is evident, which augurs well for earnings outcomes in 2026. The health agenda grows for the sector.' Asda, which has been struggling since its private equity takeover, saw another slowdown in sales, according to NielsenIQ. Sales at the UK's third-largest grocer fell by 1.6 per cent during the 12-week period, while market share slipped from 12.4 per cent to 11.5 per cent. Total till sales growth increased by 3.8 per cent in the past four weeks, up from 3 per cent the previous month, thanks to warmer weather 'enabling al fresco dining', NielsenIQ said. An M&S spokeswoman said: 'We continue to make good progress in growing our food business, outperforming the market on both volume and value in all the latest data. We've launched over 200 new and upgraded lines in our foodhalls over the last two weeks, exciting both new and existing customers as they visit us more often and drive our market share growth over the long term.'
Time of India
3 days ago
- Business
- Time of India
M&S' food sales growth slows after cyberattack, says NielsenIQ
HighlightsBritish retailer Marks & Spencer's food business experienced a slowdown in sales growth to 9.1 percent during the 12 weeks ending June 14, primarily due to disruptions caused by a cyberattack in April. The market share of Marks & Spencer increased by 10 basis points year-on-year to 3.7 percent, although it decreased from the previous month's figure of 3.8 percent. Following the cyberattack, Marks & Spencer estimated a loss of approximately 300 million pounds ($409 million) in operating profit due to reduced food availability and increased waste and logistics costs. British retailer Marks & Spencer's food business saw sales growth slow to 9.1 per cent over the 12 weeks to June 14 year-on-year, reflecting the disruption that followed a cyberattack in April, industry data showed on Wednesday. Researcher NielsenIQ said M&S' food sales growth slowed from 10.8 per cent in last month's report and 14.7 per cent in the one before that. Though M&S' market share ticked up 10 basis points on the year to 3.7 per cent , it was down from the 3.8 per cent reading in last month's report. As part of its management of the cyberattack, M&S stopped taking online clothing orders and also took other systems offline. That reduced food availability and also resulted in higher waste and logistics costs. Last month, M&S said the attack would cost it about 300 million pounds ($409 million) in lost operating profit. The group resumed taking online orders for clothing lines on June 10 after a 46-day suspension following the attack. Most of NielsenIQ's data broadly echoed the findings of rival researcher Kantar's report on Tuesday, with robust performances from market leader Tesco, number two player Sainsbury's and online supermarket Ocado. However, M&S is not fully included in Kantar's market share data set.
Daily Mail
3 days ago
- Business
- Daily Mail
M&S food sales growth slowed as cyber attack forced online shutdown
Marks & Spencer's food arm saw sales growth slow as the group's online operations were also shouldering the impact of a crippling cyber attack. Closely-watched NielsenIQ survey data published on Wednesday sheds fresh light on the impact of the cyber attack that has hammered M&S. Food sales at the grocer slowed to 9.1 per cent in the three months to 14 Jujne, from 10.8 per cent in last month's report and 14.7 per cent in the month prior to that, researcher NielsenIQ said. While M&S's market share ticked up 10 basis points on the year to 3.7 per cent, it was down from the 3.8 per cent reading in last month's report, the research found. The cyber attack took place over the Easter weekend and initially hit click-and-collect and contactless payments. As part of its management of the cyber attack, M&S halted online clothing orders and took other systems offline. The availability of some food lines was also reduced. The cyber attack affected deliveries and led to gaps on shelves and forced the retailer to pause some offers in certain stores. Last month, M&S said the cyber attack would cost it around £300million in lost operating profit. It does, however, expect insurance to cover some of the financial impact. The group started taking online orders for clothing lines again on 10 June after a 46-day suspension following the attack. In May, the National Crime Agency indicated where their suspicions lie in respect of the M&S cyber attack. It named the notorious cyber-criminal collective Scattered Spider as a key part of its investigation. The cyber attack was reportedly carried out using DragonForce, which is a platform that gives criminals the tools to carry out ransomware attacks. According to BBC News, the hackers sent an abuse-filled email directly to M&S's chief executive, Stuart Machin, gloating about what they had done and demanding payment. In M&S's latest annual report, chairman Archie Norman said the impact of the cyber attack was likely to 'endure for some weeks, or even months.' But, he added: 'I am confident that in a year's time the cyber incident will prove to have been a bump in the road along the path to growth, even if it does not feel like that today.' Most of NielsenIQ's data on Wednesday broadly echoed the findings of rival researcher Kantar's report on Tuesday, with robust performances from market leader Tesco, Sainsbury's and Ocado. However, M&S is not fully included in Kantar's market share data set. Kantar uses a different methodology, which does not include grocery sales from delivery apps like Deliveroo. Russ Mould, investment director at AJ Bell, said: 'The cyberattack resulted in various systems going offline and that affected supplies coming into its stores. 'The incident was chaotic for the company and its customers but Marks & Spencer is now working hard to regain trust. Its food business has long been the shining star of the group and it is unlikely to be too worried about a short-term blip in the sales history. 'More of a challenge will be winning back customer support for its clothing arm, which had finally found its groove just before the cyberattack knocked the business for six.' M&S shares were up 0.48 per cent or 1.70p to 357.00p on Wednesday, having risen over 24 per cent in the last year.
New Straits Times
3 days ago
- Business
- New Straits Times
M&S' food sales growth slows after cyberattack, says NielsenIQ
LONDON: British retailer Marks & Spencer's (M&S) food business recorded a slowdown in sales growth to 9.1 per cent year-on-year in the 12 weeks to June 14, reflecting the aftermath of a cyberattack in April, according to data from researcher NielsenIQ released on Wednesday. NielsenIQ said the growth was down from 10.8 per cent in last month's report and 14.7 per cent in the prior one. M&S' market share ticked up by 10 basis points year-on-year to 3.7 per cent, but slipped from 3.8 per cent in the previous month's reading. In response to the cyberattack, M&S had halted online clothing orders and disabled other systems, which impacted food availability and led to higher waste and logistics costs. Last month, M&S estimated the attack would result in a loss of about £300 million (US$409 million) in operating profit. The group resumed online clothing orders on June 10 after a 46-day suspension following the incident. NielsenIQ's data largely aligned with a separate report by rival researcher Kantar released on Tuesday, which showed strong performances from market leader Tesco, number two Sainsbury's, and online grocer Ocado. However, M&S is not fully included in Kantar's market share data set.
Yahoo
3 days ago
- Business
- Yahoo
M&S' food sales growth slows after cyberattack, says NielsenIQ
LONDON (Reuters) -British retailer Marks & Spencer's food business saw sales growth slow to 9.1% over the 12 weeks to June 14 year-on-year, reflecting the disruption that followed a cyberattack in April, industry data showed on Wednesday. Researcher NielsenIQ said M&S' food sales growth slowed from 10.8% in last month's report and 14.7% in the one before that. Though M&S' market share ticked up 10 basis points on the year to 3.7%, it was down from the 3.8% reading in last month's report. As part of its management of the cyberattack, M&S stopped taking online clothing orders and also took other systems offline. That reduced food availability and also resulted in higher waste and logistics costs. Last month, M&S said the attack would cost it about 300 million pounds ($409 million) in lost operating profit. The group resumed taking online orders for clothing lines on June 10 after a 46-day suspension following the attack. Most of NielsenIQ's data broadly echoed the findings of rival researcher Kantar's report on Tuesday, with robust performances from market leader Tesco, number two player Sainsbury's and online supermarket Ocado. However, M&S is not fully included in Kantar's market share data set. ($1 = 0.7341 pounds)
