What Really Caused Macy's Slump?
Data breaches seem to be all the rage these days. In just the past few months, Facebook (NASDAQ: FB), Google (NASDAQ: GOOGL), Adobe (NASDAQ: ADBE), T-Mobile (NASDAQ: TMUS), Twitter (NYSE: TWTR), LinkedIn (a Microsoft (NASDAQ: MSFT) subsidiary) have faced breaches of sensitive user data totalling into the billions of users. For the most part, these companies suffered more in the court of public opinion than on the Street. Each of them faced a slight sell-off during the affected news cycle and recovered soon after – even Facebook, which the media has chosen as the poster boy for privacy law and refuses to forgive.
Publicly traded retail stores don't necessarily face the same scrutiny in the stock market as tech companies for data breaches. Under Armour (NYSE: UAA) suffered no real damage to its stock price since its confirmed breach in March 2018 (the footwear and apparel maker's stock fluctuated for other reasons). Hudson's Bay Co (OTC: HBAYF) saw no real decline when subsidiary Saks Fifth Avenue was breached in April 2008. The Adidas (ETR: ADS) breach of June 2018 might be blamed for a two-week loss of 9.18%. It recovered that loss in five weeks and now stands at a 55.34% premium off of that low.
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Source Fool.com
