VF Corp., the parent company of iconic brands like The North Face, Timberland, and Vans, is grappling with a cybersecurity challenge that has disrupted its order fulfillment capabilities. The incident, detected on December 13, involved «unauthorized occurrences» compromising personal data, with the company actively working to assess the full scope of the breach and restore systems.
VF Corp. acknowledges the material impact on its operations due to the cyberattack, leading to a 7% pre-market share decline in New York. The stock, down 28% for the year, contrasts with the S&P 500 Consumer Discretionary Sector Index’s 41% gain.
While VF Corp. assures customers that its global retail stores are open, e-commerce order fulfillment has been affected. Workarounds for offline operations have been implemented to mitigate the ongoing disruption caused by the cyberattack.