January 19, 2024 at 08:00AM
35.5 million customers’ personal information was stolen in a ransomware attack on VF Corporation in December 2023. The attack affected brands like Dickies, The North Face, and Vans. The company has restored impacted systems, but faced operational disruptions. It reported no evidence of stolen passwords and expects minimal financial impact. Retail operations are now operating relatively smoothly.
Key takeaways from the meeting notes:
– VF Corporation suffered a ransomware attack in December 2023, resulting in the theft of personal information from 35.5 million customers.
– The attack impacted operations, leading to the shut down of certain systems, delay in retail store inventory replenishment, and order fulfillment issues.
– The company indicated that no Social Security numbers, bank account information, or payment card details were compromised, and no evidence was found that customer passwords were stolen.
– Despite experiencing minor residual impacts, VF has restored all affected systems and resumed retail store inventory replenishment and product order fulfillment.
– The incident is not expected to have any additional material impact on the company’s financial condition and results of operations beyond what was disclosed in December.