The news: A wave of cyberattacks is sweeping through the retail industry, with Cartier and North Face the latest to report breaches. Both companies recently notified customers that their names and email addresses had been stolen, although financial information remained secure.
The landscape: The disclosures cap several months of chaos for retailers, who are increasingly finding themselves the target of choice for hackers looking to gain access to customer information.
Our take: The surge in cyber incidents is coming at the worst possible time for retailers, who are already dealing with extreme upheaval in their supply chains and looking for any opportunity to cut costs. But M&S’ cautionary tale should be a wake-up call for companies to assess—and possibly upgrade—their cybersecurity measures, and make sure that all employees have robust training to prevent criminals from slipping through the cracks.
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