Latest news with #Pink-branded
Indian Express
03-06-2025
- Business
- Indian Express
Victoria's Secret says it will postpone earnings report after recent security breach
Victoria's Secret is postponing the release of its quarterly earnings following a security breach that disrupted the popular lingerie brand's corporate operations and led it to take down its US shopping site for several days last week. In a Tuesday update, Victoria's Secret said it first detected a 'security incident involving its information technology systems' on May 24 — and immediately turned to response protocols in effects 'to contain and eradicate unauthorized network access,' which included engaging with third-party experts. The Ohio-based retailer added that it temporarily shut down corporate systems and its retail website on May 26 'as a precaution.' The Victoria's Secret website in the US stayed dark for several days after, sparking prolonged frustration among shoppers. It wasn't back online until late Thursday. While not directly confirmed by Victoria's Secret, the incident bore hallmarks of a cyberattack involving ransomware. Analysts note that more and more retailers are facing these kinds of attacks today — and pointed to the reach and length of disruptions impacting Victoria's Secret's operations. Beyond its website, some in-store services at Victoria's Secret namesake and Pink-branded locations were also shut down due to breach. But on Tuesday, the company said most of those functions had since been restored. Victoria's Secret also said Tuesday that it's still working to fully restore access to its corporate systems, which is why it's delaying its first-quarter earnings — noting that the process has 'prevented employees from accessing certain systems and information' needed to finalize and release the financial report. Still, the company shared some preliminary results. For its first quarter of 2025, which ended May 3, Victoria's Secret now expects to report $1.35 billion in net sales and an adjusted operating income of $32 million, exceeding previously-issued guidance. Analysts surveyed by FactSet expect sales of about $1.33 billion, on average. Victoria's Secret did not immediately share a new date for the release of its first quarter earnings. Victoria's Secret maintained that last month's breach did not impact its first quarter results, as the period ended before the breach caused disruptions. But the company said it would continue to 'assess the full scope' of the incident, including expenses that might impact future finances. The 'security incident' impacting Victoria's Secret arrives as more and more companies report breaches that disrupt operations and/or expose customer data, particularly among retailers. Several British retailers — Marks & Spencer, Harrods and Co-op — have all shared that they've been targeted by cyberattacks over recent weeks, for example. The cyberattack hitting M&S stopped it from processing online orders and left store shelves empty, with the company estimating that this will cost it 300 million pounds ($400 million). And last month, Adidas announced that it had recently become aware of an 'unauthorized external party' obtaining some consumer data — mostly consisting of contact information — through a third-party customer service provider. Following any cybersecurity incident impacting a consumer-facing brand, experts warn that it's important for shoppers to be alert. Fraudsters might take advantage of the news to promise fake promotions through phishing emails, for example, or use sensitive information that may have been compromised.
New York Post
03-06-2025
- Business
- New York Post
Victoria's Secret delays earnings release after ‘security incident' shut down website
Victoria's Secret is postponing the release of its quarterly earnings following a security breach that disrupted the popular lingerie brand's corporate operations and led it to take down its US shopping site for several days last week. In a Tuesday update, Victoria's Secret said it first detected a 'security incident involving its information technology systems' on May 24 — and immediately turned to response protocols in effects 'to contain and eradicate unauthorized network access,' which included engaging with third-party experts. The Ohio-based retailer added that it temporarily shut down corporate systems and its retail website on May 26 'as a precaution.' 3 Victoria's Secret is postponing the release of its quarterly earnings following a security breach that disrupted the corporate operations and led it to take down its US shopping site for several days last week. Getty Images The Victoria's Secret website in the US stayed dark for several days after, sparking prolonged frustration among shoppers. It wasn't back online until late Thursday. While not directly confirmed by Victoria's Secret, the incident bore hallmarks of a cyberattack involving ransomware. Analysts note that more and more retailers are facing these kinds of attacks today — and pointed to the reach and length of disruptions impacting Victoria's Secret's operations. Beyond its website, some in-store services at Victoria's Secret namesake and Pink-branded locations were also shut down due to breach. But on Tuesday, the company said most of those functions had since been restored. Victoria's Secret also said Tuesday that it's still working to fully restore access to its corporate systems, which is why it's delaying its first-quarter earnings — noting that the process has 'prevented employees from accessing certain systems and information' needed to finalize and release the financial report. Still, the company shared some preliminary results. For its first quarter of 2025, which ended May 3, Victoria's Secret now expects to report $1.35 billion in net sales and an adjusted operating income of $32 million, exceeding previously-issued guidance. Analysts surveyed by FactSet expect sales of about $1.33 billion, on average. 3 Victoria's Secret also said Tuesday that it's still working to fully restore access to its corporate systems, which is why it's delaying its first-quarter earnings. Getty Images Victoria's Secret did not immediately share a new date for the release of its first quarter earnings. Victoria's Secret maintained that last month's breach did not impact its first quarter results, as the period ended before the breach caused disruptions. But the company said it would continue to 'assess the full scope' of the incident, including expenses that might impact future finances. The 'security incident' impacting Victoria's Secret arrives as more and more companies report breaches that disrupt operations and/or expose customer data, particularly among retailers. Several British retailers — Marks & Spencer, Harrods and Co-op — have all shared that they've been targeted by cyberattacks over recent weeks, for example. 3 Victoria's Secret maintained that last month's breach did not impact its first quarter results, as the period ended before the breach caused disruptions. Julie – The cyberattack hitting M&S stopped it from processing online orders and left store shelves empty, with the company estimating that this will cost it 300 million pounds ($400 million). And last month, Adidas announced that it had recently become aware of an 'unauthorized external party' obtaining some consumer data — mostly consisting of contact information — through a third-party customer service provider. Following any cybersecurity incident impacting a consumer-facing brand, experts warn that it's important for shoppers to be alert. Fraudsters might take advantage of the news to promise fake promotions through phishing emails, for example, or use sensitive information that may have been compromised.
San Francisco Chronicle
03-06-2025
- Business
- San Francisco Chronicle
Victoria's Secret says it will postpone earnings report after recent security breach
NEW YORK (AP) — Victoria's Secret is postponing the release of its quarterly earnings following a security breach that disrupted the popular lingerie brand's corporate operations and led it to take down its U.S. shopping site for several days last week. In a Tuesday update, Victoria's Secret said it first detected a "security incident involving its information technology systems' on May 24 — and immediately turned to response protocols in effects 'to contain and eradicate unauthorized network access,' which included engaging with third-party experts. The Ohio-based retailer added that it temporarily shut down corporate systems and its retail website on May 26 'as a precaution.' The Victoria's Secret website in the U.S. stayed dark for several days after, sparking prolonged frustration among shoppers. It wasn't back online until late Thursday. While not directly confirmed by Victoria's Secret, the incident bore hallmarks of a cyberattack involving ransomware. Analysts note that more and more retailers are facing these kinds of attacks today — and pointed to the reach and length of disruptions impacting Victoria's Secret's operations. Beyond its website, some in-store services at Victoria's Secret namesake and Pink-branded locations were also shut down due to breach. But on Tuesday, the company said most of those functions had since been restored. Victoria's Secret also said Tuesday that it's still working to fully restore access to its corporate systems, which is why it's delaying its first-quarter earnings — noting that the process has 'prevented employees from accessing certain systems and information' needed to finalize and release the financial report. Still, the company shared some preliminary results. For its first quarter of 2025, which ended May 3, Victoria's Secret now expects to report $1.35 billion in net sales and an adjusted operating income of $32 million, exceeding previously-issued guidance. Analysts surveyed by FactSet expect sales of about $1.33 billion, on average. Victoria's Secret maintained that last month's breach did not impact its first quarter results, as the period ended before the breach caused disruptions. But the company said it would continue to 'assess the full scope' of the incident, including expenses that might impact future finances. The 'security incident' impacting Victoria's Secret arrives as more and more companies report breaches that disrupt operations and/or expose customer data, particularly among retailers. Several British retailers — Marks & Spencer, Harrods and Co-op — have all shared that they've been targeted by cyberattacks over recent weeks, for example. The cyberattack hitting M&S stopped it from processing online orders and left store shelves empty, with the company estimating that this will cost it 300 million pounds ($400 million). And last month, Adidas announced that it had recently become aware of an 'unauthorized external party' obtaining some consumer data — mostly consisting of contact information — through a third-party customer service provider.
Time of India
03-06-2025
- Business
- Time of India
Victoria's Secret delays earnings release after cybersecurity breach disrupts operations
Victoria's Secret is postponing the release of its quarterly earnings after a security breach disrupted corporate operations and forced the popular lingerie brand to take its US shopping website offline for several days last week. In an update on Tuesday, the Ohio-based retailer said it first detected a 'security incident involving its information technology systems' on May 24 and immediately activated its response protocols 'to contain and eradicate unauthorized network access,' including engaging third-party experts, AP reported. As a precaution, the company temporarily shut down corporate systems and its US retail website on May 26. The website remained inaccessible for several days and was only restored late Thursday, causing ongoing frustration among customers. While Victoria's Secret did not explicitly confirm a ransomware attack, analysts noted that the characteristics of the incident align with such threats, which have become increasingly common across the retail sector. The breach also impacted some in-store services at both Victoria's Secret and Pink-branded outlets, though the company said most of those operations had since resumed. The cyberattack is also affecting the company's ability to release its first-quarter financial results. Victoria's Secret said that it is still working to restore full access to its corporate systems, which has 'prevented employees from accessing certain systems and information' required to complete its financial reporting. Despite the disruption, the company released preliminary first-quarter results for the period ending May 3, which predated the breach. It expects to report $1.35 billion in net sales and an adjusted operating income of $32 million—figures that exceed its previous guidance. Analysts polled by FactSet had forecast sales of approximately $1.33 billion. Victoria's Secret has not announced a new date for the release of its complete first-quarter earnings report. The company maintained that the breach had no impact on its first-quarter results but added it would continue to 'assess the full scope' of the incident, including any future financial implications. The Victoria's Secret breach comes amid a broader surge in cybersecurity incidents targeting consumer-facing brands. In recent weeks, British retailers including Marks & Spencer, Harrods, and Co-op have reported cyberattacks, with M&S estimating a potential financial hit of 300 million pounds ($400 million) due to the disruption of online orders and supply chain issues. In a separate case last month, Adidas disclosed that consumer contact information had been accessed through a third-party customer service provider. Following such incidents, cybersecurity experts urge consumers to stay vigilant. They warn that fraudsters may exploit the situation by sending phishing emails, offering fake promotions, or attempting to misuse compromised data. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Hill
03-06-2025
- Business
- The Hill
Victoria's Secret says it will postpone earnings report after recent security breach
NEW YORK (AP) — Victoria's Secret is postponing the release of its quarterly earnings following a security breach that disrupted the popular lingerie brand's corporate operations and led it to take down its U.S. shopping site for several days last week. In a Tuesday update, Victoria's Secret said it first detected a 'security incident involving its information technology systems' on May 24 — and immediately turned to response protocols in effects 'to contain and eradicate unauthorized network access,' which included engaging with third-party experts. The Ohio-based retailer added that it temporarily shut down corporate systems and its retail website on May 26 'as a precaution.' The Victoria's Secret website in the U.S. stayed dark for several days after, sparking prolonged frustration among shoppers. It wasn't back online until late Thursday. While not directly confirmed by Victoria's Secret, the incident bore hallmarks of a cyberattack involving ransomware. Analysts note that more and more retailers are facing these kinds of attacks today — and pointed to the reach and length of disruptions impacting Victoria's Secret's operations. Beyond its website, some in-store services at Victoria's Secret namesake and Pink-branded locations were also shut down due to breach. But on Tuesday, the company said most of those functions had since been restored. Victoria's Secret also said Tuesday that it's still working to fully restore access to its corporate systems, which is why it's delaying its first-quarter earnings — noting that the process has 'prevented employees from accessing certain systems and information' needed to finalize and release the financial report. Still, the company shared some preliminary results. For its first quarter of 2025, which ended May 3, Victoria's Secret now expects to report $1.35 billion in net sales and an adjusted operating income of $32 million, exceeding previously-issued guidance. Analysts surveyed by FactSet expect sales of about $1.33 billion, on average. Victoria's Secret did not immediately share a new date for the release of its first quarter earnings. Victoria's Secret maintained that last month's breach did not impact its first quarter results, as the period ended before the breach caused disruptions. But the company said it would continue to 'assess the full scope' of the incident, including expenses that might impact future finances. The 'security incident' impacting Victoria's Secret arrives as more and more companies report breaches that disrupt operations and/or expose customer data, particularly among retailers. Several British retailers — Marks & Spencer, Harrods and Co-op — have all shared that they've been targeted by cyberattacks over recent weeks, for example. The cyberattack hitting M&S stopped it from processing online orders and left store shelves empty, with the company estimating that this will cost it 300 million pounds ($400 million). And last month, Adidas announced that it had recently become aware of an 'unauthorized external party' obtaining some consumer data — mostly consisting of contact information — through a third-party customer service provider. Following any cybersecurity incident impacting a consumer-facing brand, experts warn that it's important for shoppers to be alert. Fraudsters might take advantage of the news to promise fake promotions through phishing emails, for example, or use sensitive information that may have been compromised.
