VF Corp., the company behind brands like North Face and Supreme, is grappling with a cybersecurity setback. Unauthorized activities on their IT systems have disrupted business operations, as certain systems got encrypted, leading to data theft, including personal information. The company acknowledged this in a regulatory filing last Monday.
Their IT systems are utilized in retail stores and online platforms, and their brand website is live for customers to purchase products. However, the company stated that they are still dealing with "operational Challenges," including fulfilling orders.
Customers browsing the North Face website will notice a warning banner alerting them to potential logistics issues affecting delivery times.
VF Corp., which also owns Dickies, Jansport, and Eastpak, warned that the cyberattack would significantly impact its business until the issue is resolved. Stock prices for VF Corporation (VFC) dipped by nearly 6% in early trading.
The enrichment data shows that at the time of the filing, the full impact of the incident was not yet known.[5] The culprit behind the cyber attack is reported to be ransomware. The company quickly reacted to the incident and collaborated with law enforcement to minimize its impact.[5]
The company's ability to operate normally remains hampered by this incident. The extent of the damage and how long it will take to return to full functionality are still unclear. Customers are advised to monitor the situation and prepare for potential delays in receiving their orders.
