Clorox reports its quarterly results in November, but the cleaning products maker is already bracing investors for what it says will be a “material impact” from a cyberattack. It’s the latest big company to deal with a major security breach.
Clorox said Monday that its normal automated order processing system isn’t fully online, as it has taken time to repair. The company plans to start transitioning back to normal operations next week, which will take time to ramp up to previous levels. Clorox isn’t the only company that has been hit with a cybersecurity attack in recent years. And many consumers may have become immune to warnings of data breaches given their ubiquity. Shares of Equifax are up roughly 90% since it disclosed its huge breach disclosure in September 2017 that impacted 147 million people and was seen as egregious given the sensitive financial data it held. The $425 million it set aside to help consumers in settlement is less than 2% of its current market value.
As companies push to do more of their business in the cloud, concerns rise. According to cybersecurity firm Check Point Software Technologies, 48 ransomware groups attacked more than 2,200 victims in the first half of this year. The 8% jump in attacks during the second quarter reflected the highest volume of breaches in two years. “The manufacturing and retail sectors have seen the most victims, suggesting a shift in ransomware attack strategy,” the firm noted.