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Sobeys parent company Empire says cyberattack cost $25M

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Sobeys parent company has shared new details on a cyberattack that shut down its pharmacy services and other in\u002Dstore functions last month.

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“We’re not going to provide the gross amount,” Matt Reindel, chief financial officer of Empire and Sobeys, said during a call with analysts to discuss the company’s latest financial results. Michael Medline, president and CEO of Empire and Sobeys, said the company took action as soon as the cyber “intrusion” was discovered.

While customer-facing services have been fully restored for some time, the company said it’s continuing to bring information and administrative systems back online in a phased approach.Article content Empire reported earnings of $189.9 million or 73 cents per share in its latest quarter, up from $175.4 million or 66 cents per share in the same quarter last year.

The company’s food retailing business — which operates several chains including Sobeys, Safeway, FreshCo, Farm Boy and Foodland — recorded net earnings of $158.0 million during the quarter, down from a profit of $159.3 million during the same period last year.Article content

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Sobeys parent company Empire says cyberattack expected to cost $25M after insuranceSobeys parent company Empire Co. Ltd. has shared new details on a cyberattack that shut down its pharmacy services and other in-store functions last month. I warned y'all. Liars. Guess who’s going to be paying for it. That’s right, the costumer
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