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Macy’s Stock Sinks After Data Hack Disclosure

Macy’s saw its share price tumble after the retailer confirmed a data breach that could have exposed customers’ financial details. So reports Bloomberg.

The retailer said that, for a one-week period in October, unauthorized computer code added to macys.com allowed a hacker to capture credit card data and other information entered on the site’s online checkout and wallet pages.

Macy’s stock fell by 11% on the day of the disclosure, its biggest decline in three months, as experts warned the breach could scare shoppers during the crucial holiday season.

Read the full article from Bloomberg.

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