Current:Home > BackClorox ransomware attack which caused product shortages linked to earnings loss-InfoLens
Clorox ransomware attack which caused product shortages linked to earnings loss
View Date:2024-12-23 11:52:53
The Clorox Company announced that an August cyber attack that caused product shortages, will impact first quarter earnings for 2024, and they expect sales to drop 23% to 28%.
In a prepared statement, the company said the cybersecurity attack "caused wide-scale disruption of Clorox's operations, including order processing delays and significant product outages."
In a September filing with the Securities and Exchange Commission, Clorox wrote that it found "unauthorized activity" on its information technology systems and immediately took steps to correct the issue, even taking systems offline, but customers had already begun experiencing issues with product availability.
The company has since restored its systems and operations, but didn't disclose who may have caused the attack.
A month after Clorox, MGM Resorts International revealed a "cybersecurity issue" that caused slot machines and phone lines to shut down. Caesars Entertainment also disclosed in its SEC filing that hackers stole customer loyalty data, which included driver’s license social security numbers for a significant number of their members.
Clorox shares fell 6% Thursday afternoon, and were trading at $123.92 on the New York Stock Exchange.
Slot machines and phone lines still downafter MGM cyberattack Sunday. What to expect.
Can't find the right Clorox product?A recent cyberattack is causing some shortages
Pandemic popularity
The company is known for its cleaning wipes, and brands such as Burt's Bees and Pine-Sol.
During the height of the pandemic, consumers rushed to stores to buy Clorox disinfectant wipes to mitigate the spread of Covid-19, only to find shelves were wiped out.
In August 2020, Clorox reported a 22% sales increase for its fourth quarter, which jumped to 27% the following quarter.
veryGood! (6652)
Related
- Shocked South Carolina woman walks into bathroom only to find python behind toilet
- Tiffany Haddish opens up about sobriety, celibacy five months after arrest on suspicion of DUI
- Oklahoma prosecutors charge fifth member of anti-government group in Kansas women’s killings
- Why Gwyneth Paltrow Is Having Nervous Breakdown Over This Milestone With Kids Apple and Moses
- Kyle Richards Shares an Amazing Bottega Dupe From Amazon Along With Her Favorite Fall Trends
- Harvey Weinstein's 2020 Rape Conviction Overturned by Appeals Court
- Ryan Seacrest and Aubrey Paige Break Up After 3 Years
- Ryan Seacrest's Ex Aubrey Paige Responds to Haters After Their Breakup
- US Diplomats Notch a Win on Climate Super Pollutants With Help From the Private Sector
- Army reservist who warned about Maine killer before shootings to testify before investigators
Ranking
- Martin Scorsese on faith in filmmaking, ‘The Saints’ and what his next movie might be
- Christina Applegate Explains Why She’s Wearing Adult Diapers After Sapovirus Diagnosis
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Change of Plans
- Matty Healy Reveals If He's Listened to Taylor Swift's Tortured Poets Department
- Republican Scott Baugh concedes to Democrat Dave Min in critical California House race
- Watch 'The Office' stars Steve Carell and John Krasinski reunite in behind-the-scenes clip
- Get Quay Sunglasses for Only $39, 20% Off Miranda Kerr’s Kora Organics, 50% Off Target Home Deals & More
- Portland strip club, site of recent fatal shooting, has new potential tenant: Chick-fil-A
Recommendation
-
Pie, meet donuts: Krispy Kreme releases Thanksgiving pie flavor ahead of holidays
-
Meta more than doubles Q1 profit but revenue guidance pulls shares down after-hours
-
74-year-old woman who allegedly robbed Ohio credit union may have been scam victim, family says
-
A hematoma is more than just a big bruise. Here's when they can be concerning.
-
Kim Kardashian and Kourtney Kardashian Team Up for SKIMS Collab With Dolce & Gabbana After Feud
-
Report: Tiger Woods, Rory McIlroy will get huge loyalty bonuses from PGA Tour
-
Bears unveil plan for lakefront stadium and seek public funding to make it happen
-
Maple Leafs' Sheldon Keefe: Bruins' Brad Marchand 'elite' at getting away with penalties