Victoria’s Secret confirmed it was forced to shut down its corporate systems and e-commerce website for several days following a cybersecurity incident last week.
The company disclosed that the breach occurred on May 26, prompting an immediate lockdown of its IT systems to contain and prevent unauthorised access. The website was fully restored by May 29.
Although the lingerie retailer said the incident did not materially disrupt first-quarter operations or impact financial results, it acknowledged that second-quarter earnings could be affected by costs related to the breach.
The company has delayed its Q1 earnings release, originally scheduled for June 5, citing restricted employee access to key systems and information during the restoration period.
Despite the disruption, Victoria’s Secret said it expects first-quarter sales and adjusted earnings per share to meet or exceed the high end of its prior guidance.
The company also confirmed that some in-store functions at both its Victoria’s Secret and PINK outlets were impacted by the incident, but have now been restored.
The breach is the latest in a string of cyberattacks targeting fashion and retail brands.
Earlier this week, Cartier informed customers of a data breach, while Marks & Spencer has also experienced cyber-related issues in recent months.
Victoria’s Secret shares were up around 2% in early Tuesday trading following the announcement.
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