Member Info for MakeSomeMoney

Yeah this is what I feared. Complete compromise of their Active Directory - keys to the kingdom. From a IT security perspective this is as bad as it gets . They have been in the environment undetected and could well have taken out backups which would explain why it is taking so long to restore but even if they have them they will need to cleanse and restore a whole environment. Even with Crowdstrike and MS assisting this is a huge task. Still shocked the SP is so strong here

Hi Neil. I still get the following when trying to order online:

We have paused online orders

Products remain available to browse online and stores are open

I think you can say that Cyber Incident is a big worry and will have an impact on profits in short term whilst still being positive about the long term prospects and fundamentals of the company.

It is a bit blinkered to just try and brush this off as a minor thing - not trading for even a few hours online is a huge problem for any online retailer...for several days is almost unthinkable in planning. Yes the stores are still running but this is far more than a minor hiccup.

I am surprised at how well the SP has held up, it has gone down more on no news and even good news before! I am still staying out to protect my profits but I do hope M&S come out of this as well as possible and as quickly as possible. They need an update asap and restart online trading asap...I cant see the SP holding up for many more days if online remains down.

Beo1 - personal devices makes sense because corp devices/networks cannot be trusted yet also very possible they dont want to turn corporate devices back on as they may spread the virus/cause more data loss. This is not a minor ransomware attack imo

Worst is yet to come imo. They have lost business over easter weekend in stores/cafes and then not been able to take online orders for days. Lots of direct and indirect costs associated with the incident to come.

Still not able to place orders online and no update this morning. Not good. SP still holding up for now...but for how long?

Yeah the rise at the end of Friday is odd. Maybe there is someone accumulating (apart from Carrington!!)... And it may be what had been driving the SP up over the last month before the cyber incident. Will be an interesting week for sure

It's more so the timing too. At a time of increasing costs with NI you now have a cyber incident. There will be increased costs to ensure they are better prepared next time with investments in IT resilience. Long term it won't make a significant difference but in the short term it will and the general sentiment will imo pull this down. I maybe wrong but I'm hoping to load back up around 340p or less

I've not had time to post my full thoughts on what's happening...I have some experience of the industry.

My gut feel is that there has been a significant ransomware attack. They have essentially taken control and encrypted key systems. M&S are now facing paying ransom (which won't happen especially with NCSC involved) or a full recovery of systems. Given the delay and announcement today I suspect the restore of the various systems has not gone well...your only true test of resilience is in a disaster because nobody pays for this until it's too late.

I feel sorry for the IT admins... Must be working crazy hours and under immense pressure.

Where do we go from here? Impossible to guess, but have read rumours of branch pcs being completely cut off from HQ, stock systems down so they are sending stock blind to stores.

Alongside this they will be investigating the breach, they don't seem to know the full extent, as it stands it seems they have no evidence of customer data being leaked but I think it's too early to rule out and imo likely to have been taken.

This is not scaremongering, I've been open that I sold... I did so because I had a good price to get out at, the same cannot be said about my Ocado holding which I still hold and I am concerned the stock issues will cause issues with Ocado too.

Let's hope they get things restored over the weekend but the way this is playing out so far makes me believe this is far from over.

Looks like a good buy there Carrington - SP has recovered nicely. I'm still out and watching for now.

This is what I had been fearing hence my decision to sell immediately on the news. There was not enough information then and not enough on this update....I understand why, so it is not a criticism of the management but I sensed there was far more to this. They are clearly struggling to contain and this is going to continue to have impact. How much...no way to tell on the information we have but for now I continue to watch from the sidelines. Its sad, was on a great run and it will be tough times for management and employees.

Surely worth a nibble here! Just a quick trade :)

Sorry for those still holding here. I took a huge hit and sold a while back as I lost complete faith in this company. This is bad news. If you get a chance to bail this morning I would!

Contactless still not being taken yesterday afternoon at my local. They have still not got the Cyber incident under control in my opinion. Generally the store still seemed to be operating fine but I think this cyber incident is bigger than we think. I wont consider buying back until more is known and in the short term I see this drifting to 370-380 range.

Very little detail was given in the RNS. They will have to divulge more very soon if customer details have been taken. It sounds to me like they don't yet know the full extent of the breach yet which is understandable. I hope no impact on Ocado (I am still invested there!), but either way this will have an impact and whilst it may not be impacting the results given the new FY they will have to provide some info on the impact and any potential impact on this quarter / outlook. Cafes being closed on Easter Monday is far from ideal...is that because they no longer accept cash at cafes? I know in our local it is all self serve using the kiosk ordering screens...maybe a lesson in there to keep a manual cash system as backup. Ultimately every company is going to get hit at some point or other, it is all about how resilient their systems are and what controls they have in place to limit impact.

Loving the price action here. Remains a long term hold here for me...have a long SB open too for trading but even that I am keeping open for now. £3.50 soon.

I purchased this morning with half of my intended stake...wish I had gone fully in given the rise in the afternoon! At least I am in with something.

I will be holding until £10+ and will look to add more on weakness/market sell off.

Duke I've been a LTH for many a year, it's all about targets, I kept hold of these during the recent market sell offs and had a £4 to £4.40 target set. It got to £4 far quicker than I expected and this news has just allowed me to realise the profit and sit in more cash for the time being.

I've sold today having held since covid. I was looking for £4+ exit but was happy to hold and see it where it went from here. I was in an M&S yesterday and they couldn't take contact less payments also they had to close the cafe. So there has been significant impact if it's across the board. Even if the cyber incident is contained it's costly to bring in experts to investigate and cleanse/remediate environments so I think there will be an impact on results.

Huge shame as we had some great momentum building again, still very happy with my profits, been one of my best buys and will continue to look for re entry as its a great company.

Nearly break even! Come on!