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The chairman of Marks & Spencer has told MPs the company is "still in the rebuild mode" following a cyber attack which led to empty shelves and limited online operations for months.
Speaking publicly for the first time since the attack, Archie Norman declined to answer whether the business had paid a ransom.
"It's a business decision, it's a principal decision," he told members of the Business and Trade Committee.
"The question you have to ask is - and I think all businesses should ask - is, when they look at the demand, what are they getting for it?
"Because once your systems are compromised and you're going to have to rebuild anyway, maybe they've got exfiltrated data that you don't want to publish. Maybe there's something there, but in our case, substantially the damage had been done."
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The initial entry into M&S's systems took place on 17 April through "sophisticated impersonation" that involved a third party, Mr Norman said.
It was days later before the company became aware.
"Anybody who's suffered an event like ours, it would be foolish to say there's not a thousand things you'd like to have done differently," he added.
In a warning to other businesses, M&S's general counsel and company secretary Nick Folland said firms should be prepared to operate without IT systems.
"One of the things that we would say to others is make sure you can run your business on pen and paper," he said.
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