TCS Denies Reports of Losing $1 Billion Marks & Spencer Contract After Cyberattack

Tata Consultancy Services (TCS) has refuted media reports claiming it lost a $1 billion contract with British retailer Marks & Spencer (M&S) following a cyberattack. The Indian IT major called the reports “misleading” and said they contained “factual inaccuracies” about both the contract’s value and its link to the security breach.

In a statement to stock exchanges, TCS clarified that the specific “service desk” contract mentioned had undergone a competitive rebidding process in early 2025, months before the cyberattack occurred in April. The company emphasized that M&S’s decision to transition to another vendor “was made much prior to the cyber incident and is unrelated.”

TCS further stated that the contract in question represents only a small portion of its overall engagement with M&S. “TCS continues to work with Marks & Spencer across multiple strategic areas and values this longstanding partnership,” the company said.

The IT firm also confirmed it does not provide cybersecurity services to M&S and that its systems were unaffected by the attack. The UK retailer reportedly suffered damages worth £300 million, but both sides affirmed that the cyber incident had no bearing on the contractual decision.