By Lily Meier | Bloomberg
Victoria’s Secret & Co. said a security incident that caused it to shut down its e-commerce site may hurt results for the current quarter.
“The company continues to assess the full scope and impact of the incident,” the retailer said in a statement.
In response to the incident, the apparel chain took its e-commerce operation offline for three days last week. The company generated about a third of sales from digital channels last year.
The retailer’s shares fell about 2% at 9:35 a.m. in New York. The stock had declined about 50% this year through Monday’s close.
Victoria’s Secret was expected to report earnings this week, but delayed the release of results to an undisclosed date because employees are unable to access some information. The company said it’s still restoring its corporate systems.
The incident didn’t impact the first quarter, which ran through May 3. The company reported preliminary results, with sales of $1.35 billion, meeting estimates.
So far the event also hasn’t caused a material disruption to operations, the company said. But the firm has incurred expenses and other financial impacts that may negatively impact results, it said.
The Victoria’s Secret incident was the latest security issue impacting consumer-facing companies. Adidas AG recently said customer data was stolen from a third-party customer service provider. Several UK retailers also announced breaches.
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