Vans owner VF Corp. shares tumble as it says cyberattack could hamper holiday fulfillment
Publishing timestamp: 2023-12-18 12:29:43
Summary
VF Corp., the owner of North Face and Vans, experienced a cybersecurity breach that is expected to have a material effect on its business. The attack, which may have been a ransomware attack, has affected the company's ability to fulfill orders ahead of the holiday season. The full scope of the attack is still unknown, and recovery efforts are ongoing. The incident was reported on the same day that new cyber disclosure rules from the U.S. Securities and Exchange Commission took effect, which require companies to report material cybersecurity incidents to investors within four days. VF Corp. is the latest major company to be hit by a cyberattack, following Caesars Entertainment, MGM, and Clorox.
Sentiment: NEGATIVE
Keywords: breaking news: business, hacking, vf corp, retail industry, clorox co, technology, mgm resorts international, cybersecurity, breaking news: technology, apparel retail, business news, caesars entertainment inc,
Source: https://www.cnbc.com/2023/12/18/vans-owner-vf-corp-shares-tumble-after-cyberattack.html