More stories

  • in

    Victoria’s Secret Takes Down Website After Security Breach

    The cyberattack disrupted online sales for days and sent the lingerie company’s share price lower.Victoria’s Secret’s website remained offline on Thursday, days after the lingerie company was hit by a cyberattack that has disrupted its online sales and sent its stock price lower.The company said that it had taken its website and some in-store services down as a precaution, with teams working around the clock to restore operations. Its physical stores remained open.As of Thursday morning, Victoria’s Secret’s share price had fallen 8 percent since Tuesday. The company did not confirm when the security incident took place, but shoppers reported seeing effects of the outage on social media earlier this week. It was unclear who perpetrated the attack on Victoria’s Secret, which is based in Reynoldsburg, Ohio.The cyberattack was the latest example of a high-profile digital breach at a major retailer, raising questions about companies’ preparedness and the security of customer data.Earlier this month, Marks & Spencer, the large British retailer, was hit by a cyberattack that left the company unable to process online orders for weeks. The company told customers that some personal customer data had been taken, though not usable card or payment details or account passwords. It said there was no evidence that the data had been shared, but said it was prompting customers to change their passwords regardless.Also in late April, Harrods, the luxury department store based in Britain, experienced brief disruptions, restricting internet access at its sites as a security measure.Ransomware attacks, which can disrupt services in addition to stealing customer data, have increased in recent years. Organizations across sectors have been targeted, including hospitals.Cody Barrow, the chief executive of Eclectic IQ, a cybersecurity services company, said the attack on Victoria’s Secret could underscore the vulnerability of retailers, many of whom rely on third party systems, such as payment providers.“To me what it says is that retailers are still not segmenting systems well enough to contain incidents,” Mr. Barrow said. “Third parties are the biggest blind spot right now, especially for retailers.” More

  • in

    British Retailer M&S Says Cyberattack Will Cost It $400 Million

    The company also said it would take several more weeks to resolve issues relating to the attack, which came to light last month.Marks & Spencer, one of Britain’s largest retailers, said on Wednesday that disruption from a “highly sophisticated” cyberattack that crippled operations over the last month was expected to linger until July and would cost the company about 300 million pounds ($400 million) in lost profits this year.The breach, which emerged over the Easter weekend, has been costing the company millions of pounds a day after it had to pause online orders, staff had to resort to manual processes and food waste piled up.Some processes like food deliveries to stores are running smoothly again, but the company is still not taking online orders for clothing and home goods and customers cannot get access to its loyalty program. Online orders and related back-end operations will not fully return until July, the company said.“This has been a challenging time,” Stuart Machin, the retailer’s chief executive, said in a call with analysts on Wednesday.“We’re now focused on recovery and customers should be able to shop in our stores as normal,” he said, adding that it would take several more weeks to restart online orders.Cyberattacks and other digital security breaches are relatively prevalent in Britain, disrupting stores, charities and hospitals. But even when they are contained or interrupted, the damage can last a long time as organizations slowly get processes back online and staff members are diverted from other priorities.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • in

    Is It Ethical to Buy Used Books and Music?

    The magazine’s Ethicist columnist on what consumers owe to artists.Is it ethical to buy used books and music instead of new copies that will financially reward the author or artist? What do consumers owe to producers of art? — Gerald BarkerFrom the Ethicist:There’s actually a lot to be said for buying used and sustaining the low-cost democracy of art’s second life. For one thing, there are environmental advantages in the practice: Physical media are designed to endure and be shared beyond the first owner. And artists can benefit from secondary markets in real, if less tangible, ways. Works that circulate widely can enhance the artist’s reputation, whether it’s a book read and passed along, a record rediscovered in a thrift shop or a painting resold at auction. Enthusiastic new audiences, prominent displays and word-of-mouth appreciation can all contribute to a creator’s stature. (Notice that this situation is very different from music-streaming platforms, where artists are basically meant to be paid for each listen, but the recompense is often a pittance.)What artists, especially the good ones, are owed is not a cut of every encounter we have with their work but a system that gives them a real opportunity to sell their work, to build a career, to find a public. After that, their creations rightly become part of the wider cultural world, as with books in a library or paintings in a museum, where countless people can enjoy them freely across the generations.Used-book stores or vintage-record shops, where hidden gems lurk like geodes waiting to be split open, play a role, too. Such venues don’t just preserve art; they bring enthusiasts together, spark conversations and cultivate new audiences. In Michael Chabon’s novel “Telegraph Avenue,” a vintage-record shop is both a community hub and a battlefront for cultural preservation; in Helene Hanff’s book “84, Charing Cross Road,” treasured titles help sustain a human connection across an ocean. Come to think of it, I’m pretty sure I stumbled across both in used-book stores, providing their authors no royalties but plenty of affection. This setup isn’t a failure of fairness; it’s part of how creative work gains cultural traction.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • in

    Lego Black Market Fetches Big Prices for Little Plastic Bricks

    Some Lego sets have skyrocketed in value but behind the eye-popping price tags is a dark side: an underground market that fuels brazen thefts.It’s one Lego kit, a collection of small plastic bricks and related accessories. What could it cost? The answer, it turns out, could be thousands of dollars.Lego kits and minifigures, figurines that are a little over 1.5 inches tall, are commanding high prices on the secondary market, with some, like the LEGO San Diego Comic-Con 2013 Spider-Man, valued as high as $16,846.The children’s toys have even become something of an investing opportunity for those savvy enough to know what to look for.But with the eye-popping price tags comes a dark side: Lego kits have become a hot commodity on the black market and the target of brazen thieves.Last year, burglars hit Bricks & Minifigs outlets in California. Thieves made off with at least $100,000 worth of Lego kits and accessories.Last month, the Alameda County Sheriff’s Office in California recovered nearly 200 Lego sets after arresting a person in connection with a burglary at Crush Comics, a comic book store in Castro Valley, Calif.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • in

    Specter of Auto Tariffs Spurs Some Car Buyers to Rush Purchases

    “Prices are going to shoot up now,” one shopper said. But some dealers said that economic concerns might be keeping people away.Ziggy Duchnowski spent Saturday morning car shopping along Northern Boulevard in Queens with two goals in mind.He wanted to find a new small car for his wife, and he hoped to strike a deal before the new tariffs that President Trump is imposing on imported cars and trucks affect prices.“The word on the street is prices are going to shoot up now,” said Mr. Duchnowski, 45, a union carpenter who voted for Mr. Trump, holding the hands of his two small children.The tariffs — 25 percent on vehicles and parts produced outside the United States — will have a broad impact on the North American auto industry. They are supposed to go into effect on April 3 and are sure to raise the prices of new cars and trucks.They will also force automakers to adjust their North American manufacturing operations and scramble to find ways to cut costs to offset the tariffs. And for now at least, they are spurring some consumers to buy vehicles before sticker prices jump.Analysts estimate that the tariffs will significantly increase the prices of new vehicles, adding a few thousand dollars for entry-level models to $10,000 or more for high-end cars and trucks. Higher prices for new vehicles are also likely to nudge used-car prices higher.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • in

    Trend Overload

    We cover a surprising form of Gen Z burnout. Consider yourself lucky if you have never heard of the “coastal grandmother aesthetic.”Or “blueberry milk nails,” or the “mob wife aesthetic” or a hundred other blink-and-you’ll-miss-them crazes that cycle online with the ferocity of a centrifuge. These microtrends, as they’re known, tend to be associated with Gen Z. But members of that generation say they are exhausted by the onslaught of faddish clothes and new phrases they encounter every time they pick up their phones.I’ve spent the last few months asking young people about the fashion and social media trends that are actually registering in their offline lives. More than any one trend, the teenagers and twentysomethings I spoke with wanted to talk about just how many trends there were, and how overwhelming it all felt.Every generation feels pressure to keep up with trends, especially in its youth. But many members of Gen Z seem to be under particular stress: The fire hose of social media offers endless opportunities to feel left out. Others say they just can’t afford — mentally or financially — to try to keep up.For a new story in The Times’s Style section, I talked to young people about the frenzied trend ecosystem — and what some of them were doing to escape it.Keeping upShort-form video platforms like TikTok are fertile territory for microtrends. They get a heavy assist from fast fashion companies like Temu and Shein that sell inexpensive but poorly made clothes and accessories, available in just a few clicks on the apps.On the first day of sixth grade, Neena Atkins noticed that several girls at her middle school wore scrunchies on their wrists. She searched for scrunchies on TikTok, and in the days that followed she was served dozens more videos in which the hair ties were being worn as bracelets.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • in

    Macy’s Signals a Rocky Year Ahead as Trade War Looms

    The largest department store chain in the U.S., like other retailers recently, warned that consumers may be more cautious with their money in the months ahead.Macy’s, the largest department store in the United States, saw slightly improved sales across all of its stores during the holiday season, but like other retailers it warned of a potentially rocky year ahead. Macy’s said comparable sales at stores that it owns were down 1.1 percent in its fiscal fourth quarter, which ended Feb. 1. Across all of Macy’s nameplates, which include Bloomingdale’s and Bluemercury, as well as its licensed business and online marketplace, sales rose 0.2 percent, the best result in many quarters.Macy’s entered the holiday season facing tough challenges, including more cost-conscious consumers, weakening profitability and a bizarre accounting error. It is in the midst of a turnaround plan that includes closing underperforming locations and improving its remaining stores with more staffing and better merchandise. It has closed about 66 of 150 planned stores so far. While Macy’s sees signs of optimism, the forecast it offered Wall Street showed that it expects to bring in less revenue than it did last fiscal year, in part because of the store closures. The retailer said it expects net sales to be $21 to $21.4 billion, down from the $22.3 billion this past year. It expects comparable sales to fall as much as 2 percent.David Swartz, a senior equity analyst at Morningstar, cautioned that investors and analysts like himself “need to see more” in order to be convinced that the department store’s strategy to reverse its fortunes is really working.“When you own hundreds of stores, some of them are going to be really good and some of them in the middle and some of them are terrible,” he said, adding that “the fact that the better stores are performing fairly well does not really tell you that much about the health of the whole company, unfortunately.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • in

    Joann Customers React to Store Closings and Bankruptcy

    For quilters, knitters and crafters, Joann, which expects to close more than half of its stores after filing for bankruptcy, has been a one-stop shop — and more.Crafters, quilters, knitters and makers across the country received bleak news on Wednesday when they learned that Joann, the arts-and-crafts retail giant, was preparing to close more than half of its stores in the wake of its latest bankruptcy filing — its second in less than a year.Possibly as early as this weekend, pending court approval, the company will begin closing 500 of its roughly 800 stores nationwide. To its loyal customer base, the news represented more than just the decline of a chain that sells yarn, art supplies, sewing machines and fabrics. It also symbolized the demise of a sanctuary for those who find joy in the therapeutic hobby of creation.Jen Clapp, a longtime quilter and former fiber optics salesperson who lives in Northern Kentucky, mourned the expected end of the Joann she had been visiting since she was a girl. Back then, it was known as Jo-Ann Fabrics.“My friends who don’t quilt have been texting me to ask, ‘I just heard what happened — are you OK?’” Ms. Clapp said. “And no, I’m not OK. I’m heartbroken. My grandmother took me to that Joann, and I still go to it. Back then it opened up my world to quilting, seeing a whole wall full of calico cotton, and it’s been my go-to Joann ever since.”“I’ve gone to the smaller boutique stores, and you might get higher-end fabrics at them, but nothing really has the same selection as a Joann,” she added. “What’s happening will hurt the quilting community because those smaller specialty stores are few and far between. You’ve got to travel to get to one, and not everyone can find them. But almost anybody can get to a Joann.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More