Clorox Cyberattack: Operations and Stock Impact

What's Happening?

• Clorox, the household cleaning giant, has been hit by a cyberattack.

• This attack disrupted their operations and caused a shortage of some Clorox products.

• The company hasn't disclosed which products are affected.

Immediate Action

Upon detecting unauthorized IT activities in August, Clorox promptly moved to mitigate the breach’s impact, including a halt in specific operations to safeguard their systems.

Despite their efforts, Clorox grapples with a staggered operational comeback. The firm is presently manually handling order fulfillment and processing, working towards resuming complete operations later this week.

Financial Impact

• This cyberattack will impact Clorox's current-quarter financial results.

• The long-term effects are uncertain, given the ongoing recovery.

• Clorox (CLX) shares fell about 2% in early trading.

Similar Incident

MGM Resorts recently faced a suspected cyberattack, disrupting various aspects of its business.

What's Next for Clorox?

While Clorox expects a gradual return to normal operations, the timeline is uncertain.

Source: CNN Business