20:18:51 EDT Mon 17 Jun 2024
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Indigo Books & Music Inc
Symbol IDG
Shares Issued 27,679,058
Close 2024-04-30 C$ 2.48
Market Cap C$ 68,644,064
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Globe says Empire, Indigo know London Drugs' pain well

2024-04-30 08:10 ET - In the News

See In the News (C-EMP) Empire Company Ltd

The Globe and Mail reports in its Tuesday edition that Vancouver-based London Drugs has closed all its stores, "until further notice," after a weekend cyberattack -- the latest Canadian retailer to see its operations disrupted. The Globe's Susan Krashinsky Robertson writes that the company says it is shutting down all its locations, as well as its e-commerce site, "out of an abundance of caution." Cyberattacks are a growing concern for businesses across Canada and around the world. Other retailers have lost tens of millions of dollars in sales and costs related to such incidents, including Indigo Books & Music -- which saw its systems knocked off-line and sensitive employee data compromised in a hack last March -- and Sobeys parent Empire, which was hit by a breach in November, 2022. As of last month, the grocer was still working with its insurance providers to file claims related to the incident, citing the "complexity" of cyber insurance for the time lag. Empire chief executive officer Michael Medline said on a conference call with analysts last year: "These cyberattacks are a nasty piece of business. I wouldn't wish them on my worst enemy." Sensitive employee data were compromised in the Indigo hack.

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