Victoria’s Secret Delays Earnings Report Following Security Breach

NEW YORK — Victoria’s Secret is postponing its quarterly earnings release following a security breach that disrupted its corporate operations and led to the temporary shutdown of its U.S. shopping site.

On May 24, the brand detected a “security incident involving its information technology systems.” Immediate action was taken, including engaging third-party experts to contain the unauthorized access.

The retailer shut down its corporate systems and website on May 26 as a precaution, leading to several days of frustration for shoppers. The site remained offline until late Thursday.

While unconfirmed, signs suggest the breach was a ransomware-related incident. Analysts note a rise in such cyberattacks targeting retailers, emphasizing the disruption to Victoria’s Secret operations.

In addition to website issues, some in-store services at Victoria’s Secret and Pink-branded locations were also affected. Fortunately, the company reported that most services have since been restored.

Victoria’s Secret is still working on restoring full access to its corporate systems, which has delayed the release of its first-quarter earnings. The company noted that this disruption has hindered employee access to necessary financial information.

A preliminary report suggests net sales of $1.35 billion for the first quarter ended May 3, exceeding previous guidance. Analysts anticipated around $1.33 billion, indicating a potential positive outlook despite the breach.

The company has not provided a new date for the earnings release but maintained that the breach did not affect results for the reported quarter. Ongoing assessments will evaluate any financial impacts moving forward.

This security incident reflects a broader trend of operational disruptions due to cyberattacks among retailers. Several British companies, including Marks & Spencer and Harrods, recently reported similar issues, as did Adidas, which disclosed unauthorized access to consumer data.

Experts caution consumers to remain vigilant after such breaches, as fraudsters may exploit the situation through phishing attacks or by using compromised information to target customers.

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