WHSmith High Street sales ‘negatively affected’ following Funky Pigeon cyberattack

// WHSmith said its business arm was hit hard after Funky Pigeon was hit by a cyberattack in April
// In-store sales account for 80% of 2019 revenue for the 26 weeks to August 27, 2022

WHSmith said its main branch was “negatively affected” after its online greeting card business Funky Pigeon suffered a cybersecurity incident in April, which hurt sales.

Despite this, the stationery chain said its high street business was performing as expected, with sales at 80% of 2019 revenue for the 26 weeks to August 27, 2022.

Orders from the WHSmith subsidiary were suspended after the cyberattack, although it assured shoppers that customer payment details, including bank account or credit card details, had not been updated. in danger.

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Total group revenue remained at 112% of 2019 levels for the same 26-week period.

The retailer said its high street business is “performing as expected” and in the arm it continue to focus on profitability and return on space.

“We have identified other significant savings opportunities, including through rent reductions,” the company said in a statement.

WHSmith said it now expects earnings for the year to August 31, 2022 to be in line with improved expectations that followed the third-quarter trade update on June 15, 2022.

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