Vans Parent Company VF Corp Shares Plunge 7% as Cyberattack Shakes Market Confidence

Benzinga 2023-12-19

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VF Corp, the owner of brands like Vans and The North Face, saw its shares tumble over 7% after announcing it suffered a cyberattack. The company said the cyberattack encrypted some of its systems and hackers stole personal data, indicating it was likely a ransomware attack although the company did not confirm. The attack is expected to have a material effect on VF Corp's business according to its SEC filing, as it gears up for the busy holiday season. Fulfilling orders may be hampered.

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