Staples Still Tallying Costs of Data Breach

By Kevin Orland | November 20, 2014

Staples Inc., the world’s largest office-supply chain, said it can’t yet “reasonably” estimate the potential losses and expenses it will incur in connection with the possible credit-card data breach disclosed last month.

While the company said it believes the malware used in the intrusion has been identified and eliminated, the investigation is still in the early stages, according to a filing today.

The Framingham, Massachusetts-based retailer said its network- security insurance may help reduce any financial impact.

Staples’ potential data theft is among a wave of breaches at companies such as Home Depot Inc., Target Corp., Sears Holdings Corp.’s Kmart chain and Neiman Marcus Group Ltd. that have put pressure on retailers to bolster security.

 

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