Given a considerable security incident, Victoria’s Secret & Co. has temporarily taken its website offline, disrupting digital sales that contributed approximately $2 billion, or one-third, to the company’s total revenue in 2024.
The website shutdown began on Sunday, coinciding with a critical sales period ahead of Memorial Day. This unexpected closure has left thousands of online customers unable to access services or make purchases, greatly impacting the company’s revenue stream. The incident is speculated to involve either a ransomware or an SQL injection attack, consistent with patterns observed in the industry. Without proper vulnerability scanning and management, organizations remain at high risk for such security breaches. In response, the company has engaged third-party cybersecurity experts tasked with evaluating and containing the damage.
While the physical stores remain operational, some in-store services have likewise been temporarily halted as a precautionary measure. Importantly, there is uncertainty regarding the potential compromise of customer data, a concern that has raised alarm among consumers and investors alike. Some in-store services have been affected due to the incident. In light of these events, many are worried about the growing concerns surrounding the company’s response and communication.
Market reactions have been swift, with shares of Victoria’s Secret & Co. dropping nearly 7% since the initiation of this disturbance. Investors express apprehension about the incident’s impact on future sales and overall operational viability.
Market reactions have been rapid, with Victoria’s Secret & Co. shares falling nearly 7% amid concerns for future sales and operational stability.
Experts suggest that the company’s strong dependency on digital sales may exacerbate these concerns, casting a shadow over its financial stability.
As of now, the website displays a message indicating an ongoing security issue, with no specific timeline provided for how long the outage may last. Law enforcement has not yet confirmed involvement in this investigation, which adds a layer of uncertainty to the situation.
Customer experiences have deteriorated amidst the incident, as frequent online shoppers find themselves without access to preferred platforms during a peak shopping season.
