{
  "id": 18272824,
  "title": "Asos took hit of up to £94m from cyber attack",
  "url": "https://urgent.news/2026/11/05/asos-took-hit-of-up-to-94m-from-cyber-attack",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-11-05T07:30:02.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/asosasos-took-hit-of-up-to-94m-from-cyber-attack/"
  },
  "original_language": "en",
  "account": "Asos, the fast-fashion retail giant, suffered a financial blow of up to £94 million due to a cyber attack that targeted customer data last month. The incident overshadowed the company's return to profitability, forcing it to temporarily halt certain marketing and customer-related activities. This resulted in a \"short-term disruption\" to trading, estimated at two to four percent of the group's gross merchandise value (GMV). The retailer's GMV declined by five percent to £2.35 billion in the year ending August, placing the impact of the cyber attack between £47 million and £94 million. Chief executive José Antonio Ramos has been spearheading efforts to streamline the company's operations, cut costs, and restore its margins. Investors have shown confidence in Asos, buoyed by the company's use of artificial intelligence to anticipate fashion trends and its original mission as a platform for celebrity-inspired clothing. In the year ending August, Asos posted a £24.4 million pre-tax profit, a stark contrast to the £282 million loss it incurred the previous year. The group's adjusted loss before tax was £46.4 million, lower than the £61 million forecast by analysts, while revenue dipped by nine percent to £2.2 billion, in line with market expectations. Ramos stated that the company has embarked on a strategic pivot towards growth, building on the progress made through its transformation efforts. The CEO highlighted the eight percent GMV growth in womenswear during the second half of the year, although the firm's menswear category \"is still in recovery.\" Following the cyber attack, Asos's share price plummeted by 12 percent after an unknown group claimed they had infiltrated the firm's systems and accessed customer personal details. The hackers obtained an employee's login credentials, posing as a trusted contact. However, Asos reassured customers that their payment information remained secure. The company informed shareholders on Thursday that the investigation confirmed no payment information or account passwords were compromised. The probe concluded that the group's website and app remained operational and secure throughout the incident. Asos has since implemented additional security measures to bolster its defense against potential threats.",
  "summary": "Asos took an up-to £94m hit from the cyber attack which targeted customer data last month, overshadowing the fast-fashion firm’s return to profit. The London-listed retailer said its decision to pause some marketing and customer-related activity in the aftermath of the incident resulted in a “short-term disruption” to trading, estimated at between two and four [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}