Cyber attack causing significant monetary damage to the cooperative set to disclose figures
The Co-operative Group, a prominent UK retailer, faced a significant challenge in April 2025 as it suffered a damaging cyber attack. The incident, which affected store transactions and product availability, resulted in the hackers accessing and extracting the personal data of 6.5 million Co-op members. The names, addresses, and contact information of all Co-op members were compromised.
In the aftermath of the attack, the company shut off parts of its IT systems to mitigate further damage. Chief executive Shirine Khoury-Haq expressed her distress, stating that she was "devastated" by the impact of the incident on workers and members.
The cyber attack on the Co-op was one of several that targeted UK retailers, also affecting Marks & Spencer and Harrods. Interestingly, Marks & Spencer faced a £300 million financial hit due to a six-week halt in online sales following a cyber attack. Hackers created a copy of one of the firm's files but were unable to install planned ransomware.
The full financial impact of the attack on the Co-operative Group has not yet been revealed. However, the retailer is expected to disclose the details at a later unspecified date. The Co-op's revenues grew by 1.5% on a pro-forma 52-week basis to £11.3 billion for last year. Despite this growth, the retailer has lost market share in the UK grocery sector over the past year.
Recent statistics from industry experts at Worldpanel suggest weaker sales in recent months for the Co-op. The data focuses purely on the group's grocery business and compares the retailer directly with much larger supermarket stores from rivals including Tesco. The Co-op's sales slipped by around 2% over the 12 weeks to September 7, compared with the same period a year earlier.
The Co-op's current financial situation is further complicated by the challenging period it is experiencing. Higher costs and decreasing consumer confidence due to the rising cost of living have made it a difficult time for the retailer. The Co-op Group also expects additional costs of £80 million from shoplifting across its retail estate, and £50 million from the increase in national insurance contributions.
Last year, the company reported improved profits but warned of more than £200 million in costs and spending pressures in 2025. The Co-op's results for the first half of 2025 will be revealed on Thursday, covering the period when it was hit by the cyber attack. As the retailer navigates this challenging time, it continues to work towards securing its systems and regaining the trust of its members and customers.
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