THE WHAT? According to a Barclays Capital analyst, Estée Lauder’s recent cyber attack can potentially impact its sales by approximately $300 million.
THE DETAILS? The hacking incident led to significant disruption in the company’s global business operations, including shutting point-of-sale systems and halting certain manufacturing operations.
THE WHY? Analyst Lauren Lieberman suggests that the company has underinvested in technology, raising the concern of deeper issues within the organization. This cybersecurity breach adds to Estée Lauder’s existing challenges, including anticipated below-target results for fiscal 2023 due to weak sales in China and Korea.
