HanesBrands loses $100 million in net sales following ransomware attack
Hanesbrands suffered a ransomware attack which left it partially unable to fulfill customer orders for three weeks, costing the company $100 million in net sales.
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HanesBrands suffered a ransomware attack which left it partially unable to fulfill customer orders for three weeks, costing the company $100 million in net sales.
HanesBrands, an American multinational clothing company, has released its second-quarter results, which indicate a hit it took as a result of a ransomware attack.
The incident temporarily paralyzed its supply chain system and left the company unable to fulfill customer orders.
The overall losses amount to $100 million in net sales, $35m in adjusted operating profit, and $0.08 in adjusted earnings per share.
The attack was previously disclosed in an SEC filing in late May.
The company has not released any additional details as to who was responsible for the attack and whether it was required to pay a ransom.
As of now, HanesBrands has fully restored its operations and believes that the incident was taken care of.