Jun 3, 03:28 PM

Victoria's Secret Delays Q1 Earnings After May 24 Cyberattack, Website Restored May 29

Victoria's Secret postponed the release of its first-quarter 2025 earnings due to a security incident that began on May 24 and affected its information technology systems. The company shut down corporate systems and its e-commerce website on May 26, restoring the website on May 29. Some in-store services and functions in Victoria’s Secret and PINK stores were also affected, though most have now been restored. The restoration process has prevented employees from accessing certain systems and information needed for the earnings release, which was originally scheduled for June 5. Victoria's Secret operates around 1,380 retail stores in nearly 70 countries and reported $6.23 billion in annual revenue for the fiscal year ending February 1, 2025. While the company has not disclosed the nature of the incident, indications suggest a ransomware attack. Victoria's Secret stated that the breach did not impact its first-quarter financial results or cause a material disruption to operations, but additional expenses from the incident may affect second-quarter results. The company expects first-quarter sales and adjusted diluted earnings per share to meet or exceed the higher end of its previously issued forecast. External experts have been engaged to assess the impact of the incident, and work is ongoing to restore full access to corporate systems.

#PINK

Written with ChatGPT (GPT-4).

Victoria's Secret Delays Q1 Earnings After May 24 Cyberattack, Website Restored May 29

Sources

Additional media