The Nova Scotia-based parent company of grocery chain Sobeys said the Nov. 4 incident— which shut down some pharmacy operations, as well as self-checkouts and other services for several days—resulted in a $39.1 million adjustment to net earnings, after taking into account insurance recoveries to date. It also cost the company at least $15 million in its third quarter, or six cents a share, as the company had to shut down some systems during that time. (The Logic)

Talking point: Empire is still working with insurance providers to make claims and “due to the complexity” of cyber-insurance, the process will take several quarters to complete. It expects the attack will ultimately cost it about $32 million over its 2023 and 2024 financial years. Empire initially expected a $25-million impact on its 2023 earnings, exclusive of insurance recoveries. The attack on Empire came shortly before a ransomware attack on another Canadian retailer. In February, Indigo’s website temporarily went offline and it was unable to accept credit, debit or gift card payments in store as hackers accessed some current and former employees’ data.