2024-01-01 00:40:14
Par
Bloomberg
Translated by
Anne SCHILLING
Published on
Dec 20 2023
VF Corp., owner of North Face, said it is working to restore its ability to fulfill orders following a cyberattack, although the company has not yet determined the extent of the attack. incident.
Supreme
“Unauthorized actions” were detected on part of the company’s computer system on December 13, the parent company of The North Face, Timberland and Vans brands said in a statement. The “threat actor” also stole personal data, among other things. The company works in collaboration with external cybersecurity experts and has locked down certain systems.
The disruption has had – and is “reasonably likely” to continue to have – a material impact on operations, the company said in the same statement.
As of 8:07 a.m. Monday, before regular trading, stocks had fallen 7% in New York. VF stock is down 28% for the year through Friday’s close. The S&P 500 index, relating to the discretionary consumption sector (non-essential goods, editor’s note), posted an increase of 41%.
Stores around the world remain open, and VF says customers can shop online, but order processing has been affected. The company has also implemented alternative solutions for certain offline operations.
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