Friday, 22 September 2023


Clorox flags “material” impact from August cyberattack, shares slip By

Clorox Business Model has Lost Competitiveness with Retailers - Evercore ISI

© Reuters — Clorox (NYSE:) has warned that a cyberattack in August will hit its current-quarter financial results, sending shares lower in early U.S. trading on Monday.

In a regulatory filing, the bleach maker detailed the impact of a breach of its information technology systems, saying it caused a “widescale disruption” of its operations.

The company noted that while the attack is believed to have been contained, it is still in the process of repairing the damaged portions of its IT infrastructure and is moving to reintegrate parts of the system that were purposefully taken offline.

California-based Clorox flagged that it cannot estimate how long it will take to resume “fully normalized” services, although it plans to start the process of transitioning back to normal automated order processing later this month.

However, due to prior delays in order processing and an “elevated level” of product outages, the firm now believes that there will be a “material” impact on its first-quarter performance.

“It is premature for the Company to determine longer-term impact, including fiscal year outlook, given the ongoing recovery,” Clorox added.

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