A data breach at Saks Fifth Avenue, Saks OFF 5TH, and Lord & Taylor stores have left shares of the Hudson’s Bay Company (TSE:HBC) falling.
The breach, which was announced yesterday, involved customer payment-card information, that had been involved in a “data security issue.”
The company did not specify which locations had been targeted, but that the breach occurred in several Saks Fifth Avenue, Saks OFF 5TH, and Lord & Taylor stores in North America.
As the investigation continues, HBC has said “there is no indication at this time that this affects the Company’s e-commerce or other digital platforms, Hudson’s Bay, Home Outfitters, or HBC Europe.”
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The company is advising all customers “to review their account statements and contact their card issuers immediately” if they find any suspicious activity or transactions that they do not recognize.
The Hudson’s Bay Company (HBC) says the investigation is ongoing and they are working with law enforcement and the payment card companies involved “to get customers the information they need.”
According to a recent Globe and Mail article, Gemini Advisory LLC, a New York-based security firm, found that a hacking group, JokerStash, had already begun advertising the information of five million credit and debit cards for sale, including that of the HBC data breach.
The data had been stolen anywhere between March 2017 and March 2018 and customers at certain Saks Fifth Avenue and Saks OFF 5TH were at risk of having data stolen, but all Lord & Taylor locations were at risk.
The company’s stocks dove to a low of $8.31 CAD this morning, after opening at $8.61 CAD, compared to yesterday’s low of $8.53 CAD.
Although HBC hasn’t released any more updated information regarding the breach, shares did recover and closed at $8.88 CAD.
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