LONDON (Reuters) -British retailer Marks & Spencer recorded a 6.7% year-on-year increase in food sales over the 12 weeks to August 9 as the impact of a cyberattack in April faded from the figures,
M&S food sales growth accelerates as cyber hack impact fades, NielsenIQ data ...
M&S Food Sales Performance
LONDON (Reuters) -British retailer Marks & Spencer recorded a 6.7% year-on-year increase in food sales over the 12 weeks to August 9 as the impact of a cyberattack in April faded from the figures, industry data showed on Wednesday.
Impact of Cyberattack
Researcher NielsenIQ said M&S' grocery sales growth accelerated from 4.3% in last month's report. Its market share held steady at 3.7%.
Market Share and Competitors
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.
NielsenIQ Findings
In May, M&S said the attack would cost it about 300 million pounds ($405 million) in lost operating profit.
Comparison with Worldpanel
The group resumed taking online orders for clothing lines on June 10 after a 46-day suspension following the attack, and restarted click and collect services on August 11 after a near four-month hiatus.
Other data on the grocery sector released by NielsenIQ broadly echoed the findings of rival researcher Worldpanel's report on Tuesday, with robust performances from online supermarket Ocado, discounter Lidl GB, industry leader Tesco and number two player Sainsbury's.
M&S was not included in Worldpanel's data set.
($1 = 0.7413 pounds)
(Reporting by James Davey; Editing by Jan Harvey)
