M&S OVERHAULS SUPPLY CHAIN AFTER CYBERATTACK – Retailer targets £3B in online sales growth
Marks & Spencer is revamping its supply chain from factory to shop floor — part of a major push to double its online fashion and home sales to nearly £3 billion.
New fashion boss John Lyttle told Reuters the retailer is bouncing back from April’s cyberattack, which paralysed online sales and cost around £300 million in lost profit.
Lyttle says M&S has rebuilt its reputation for value, quality, and style, and is now focused on becoming a fully omni-channel retailer.
With 21 million clothing customers, the company plans to streamline suppliers, form long-term partnerships, and boost margins by cutting complexity across its global sourcing network.
M&S will also relaunch its Sparks loyalty programme, expand click-and-collect options, and introduce new payment methods to drive more frequent purchases.
It marks another phase in M&S’s turnaround — with profits at their highest in 15 years and shares trading near decade highs.
