Victoria's Secret says cyber incident led to temporary website shut down
Victoria's Secret on Tuesday disclosed that it detected a security incident relating to information technology systems, which led to the lingerie maker temporarily shutting down its website for roughly three days.
The company said it temporarily shut down its corporate systems and e-commerce website on May 26 and immediately enacted response protocols to attempt to contain and eradicate unauthorized network access. The website was restored on May 29.
The clothing brand said the incident did not impact its financial results for the first quarter of fiscal year 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
30 minutes ago
- CNA
Shops near Harvard brace for revenue drop as Trump suspends visas for new international students
CAMBRIDGE, Massachusetts: Small businesses near Harvard University are worried about a loss of revenue as United States President Donald Trump's tussle with the Ivy League school over international students continues. Just outside the university campus is Harvard Square, a bustling cultural and commercial hub with a lively mix of eateries, cafes, bookstores and other shops. Kari Kuelzer, owner of Grendel's Den Restaurant & Bar – a pub that has called the square home for more than 50 years – told CNA that students account for a third of her business. Kuelzer said she is unsure if her pub, which was opened by her parents, can survive if Harvard is forced to shut its doors to foreign students. 'Where are we going to get those dollars? They're not going to just magically materialise,' she said. Like Grendel's Den, many establishments in the area are locally-owned and rely heavily on students as a key source of income. IMPACT ON LOCAL BUSINESSES There are around 6,800 international students at Harvard, making up about a quarter of the university's student body. The Harvard Square Business Association, which represents more than 300 stores in the district, is worried about the impact on its members if Trump successfully restricts foreign nationals from studying at the elite school. When asked about how retailers are preparing for the possibility of fewer students, Denise Jillson, executive director of the association, said that shop owners may resort to adopting measures used during the COVID-19 pandemic, when there was less footfall. 'Reduction of staff, reduction of hours, less choices on the menu,' she said. Jillson noted, however, that there were government subsidies available during the pandemic to offset a loss of business, unlike the current situation where there is no support. 'We don't have that safeguard now,' she added. LONG-TERM, NATIONWIDE IMPACT Beyond Harvard, experts said contributions by foreign students can be felt far and wide across the nation, and often last much longer than their college years. Data from the Association of International Educators (NAFSA) revealed that more than 1.1 million international students in the US contributed nearly US$44 billion to its economy last year, including spending on tuition, housing, food and entertainment. Foreign students typically pay full tuition fees, making them a vital revenue stream for schools faced with declining domestic enrolment – which, according to the National Center for Education Statistics, fell 15 per cent between 2010 and 2021. Barnet Sherman, a corporate finance professor at Boston University, said that roughly one job is created for every three international students, making up about 350,000 jobs in the country. 'These are not just jobs in larger urban centres like Boston, but across the country, because nearly every city and town across America has a school, either a community college or a local state college, and there are a lot of international students coming,' he added. He noted that 25 per cent of the billion-dollar companies on the US stock exchanges were started by international students. '(The) implication is that it's not just the money that is potentially being lost now, but the multiplier effect of this money over time and the number of jobs and wealth that international students have created and will continue to create,' he added. WHAT'S GOING ON BETWEEN TRUMP AND HARVARD? In mid-April, the Trump administration ordered the freezing of billions of dollars in federal funding to Harvard. It accused the university of allowing anti-Semitism to flourish on campus and discriminating in its enrolment and hiring practices – claims that Harvard has strongly denied. The White House on May 22 tried to revoke the university's ability to enrol international students. A day later, a judge temporarily blocked the move. On Wednesday (Jun 4), Trump signed an executive order suspending the entry of foreign nationals seeking to study or participate in exchange programmes at Harvard. The dispute between Trump and the nation's oldest, wealthiest and most prestigious university is still ongoing. Secretary of State Marco Rubio also previously announced the federal government will 'aggressively' revoke the visas of Chinese students nationwide, especially those with connections to the Chinese Communist Party or studying in critical fields.
CNA
an hour ago
- CNA
UK's Wise plans US primary listing amid London market woes
Money transfer company Wise on Thursday said it intends to move its primary listing to the U.S. from London, the latest British company to do so, sending shares up over 8 per cent. Wise, which will maintain a secondary listing in London, had been exploring its listing options lately - a shift seen across the London markets due to stunted growth opportunities and lower valuations. "We believe the addition of a primary U.S. listing would help us accelerate our mission and bring substantial strategic and capital market benefits to Wise and our owners," Kristo Kaarmann, co-founder and CEO of Wise said. Shares of the money transfer firm were up 8.7 per cent at 1,177 pence in early trading. They have risen about 40 per cent in the last 12 months. Metals investor Cobalt Holdings, backed by Glencore, also scrapped its plans for a London IPO on Wednesday, which, according to one source, was driven by a lack of demand. In recent months, Unilever chose Amsterdam for the primary listing of its ice-cream business while fast-fashion firm Shein has been considering Hong Kong after plans for a London IPO were met with Chinese regulatory hurdles, according to sources. Wise plans to tap domestic institutional and retail investors in the U.S., the largest global constituent of investors, to shore up global demand for its services, notably Wise Platform - a money transfer service that Wise markets as fast and low-cost. British peer Revolut, which competes Wise on pricing and features, has also been aggressively pushing into the U.S., taking advantage of a lucrative playing field which houses some of the world's largest financial institutions. Wise also reported its annual earnings, where underlying pretax profit rose 17 per cent to 282.1 million pounds ($382 million) in the period, benefiting from strong customer growth and account adoption. ($1 = 0.7371 pounds)
CNA
5 hours ago
- CNA
US President Trump signs proclamation to restrict foreign student visas at Harvard
United States President Donald Trump has signed a proclamation restricting foreigners seeking student visas to study at Harvard University. The White House says the directive also requires US Secretary of State Marco Rubio to consider revoking the visas of existing international students at the institution. The move marks the latest in the administration's tussle with the Ivy League school to force it to comply with its demands. Toni Waterman reports on the economic impact of the ongoing row.
