Co-op says ‘malicious’ cyber-attack has hit profits by £80m

Retailer says it needs to focus on weaknesses in food business that led to gaps on shelves in its stores

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The Co-op has fallen into the red after it suffered an 80m hit to profits as a result of a malicious" cyber-attack earlier this year.

The group, which owns more than 2,000 grocery stores and more than 800 funeral parlours, was forced to shut down parts of its IT systems in April after it discovered an attempted hack.