14th Mar 2014 11:53
LONDON (Alliance News) - Wm Morrison Supermarkets PLC said Friday that data from its staff payroll system, including bank account details, was stolen and published on the internet.
The struggling British supermarket chain said the information was taking off the website immediately, and according to initial investigations was not a result of external computer hacking.
"Initial investigations suggest that this theft was not the result of an external penetration of our systems. We can confirm there has been no loss of customer data and no colleague will be left financially disadvantaged," the company said in a statement.
Morrisons said it is has informed its employees and the UK banks of the data theft, and is currently working with the cyber crime authorities and the police to identify the source of the theft. It said Chief Executive Dalton Philips is leading the response to the theft.
The news comes just a day after dismal earnings results from the UK's fourth largest retailer, which said it swung to a pretax loss of GBP176 million in the twelve months to February 2, compared with a pretax profit of GBP879 million the prior year, as revenues declined 2% and as it booked a total of GBP903 million in exceptional costs.
Morrisons on Thursday announced a raft of measures aimed at turning around the business, after it lost further ground to bigger rivals in 2013 and was hit by growing heavy discounters like Aldi and Lidl.
The measures included heavy investments in price cuts, property disposals, sales of businesses including baby products retailer Kiddicare, and cuts to capital expenditure, all of which will weigh on its results in 2014
Morrison joined the growing price war in the sector, saying it will invest GBP300 million this year in customer propositions, including price cuts, although Philips did not specify how much of that would be invested directly on price reductions.
Morrisons shares have continued to suffer since its terrible earnings report, and were down 0.3% Friday at 204.70 pence per share, after dropping 12% on Thursday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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