Online fashion firm Asos has disclosed that last month's cyber attack caused a sales hit of up to around £8 million, while stating that the impact is expected to be temporary.
The group said the incident on October 6 was estimated to have reduced group sales, measured by gross merchandise value (GMV), by approximately 2% to 4%, with UK trade particularly affected.
With the company generating around £200 million in sales each month, this translates to a financial impact of roughly £4 million to £8 million, according to the firm.
Sales remain flat despite disruption
Overall, Asos reported that sales remained flat since its August 30 year-end despite the disruption, which it said "gives us confidence that this impact will be temporary."
Chief executive Jose Antonio Ramos stated that the knock to sales had "dissipated" so far in November.
The company has completed a full internal investigation into the cyber attack, concluding that while the hacker accessed some basic customer data, including names and contact details, this did not include payment information or account passwords.
Investigation findings and security measures
An initial investigation by Asos found that an "unauthorised party gained access to an Asos employee account by impersonating a trusted contact to obtain log-in credentials." The hacker then used these credentials to access information on third-party platforms used by the company.
Asos apologised to customers last month after they received a phone alert stating the online retailer had been hacked.
In a statement on Thursday, Asos said: "Our website and app remained operational and safe to use throughout. The group has since implemented further measures to strengthen security across the business."
Financial performance and outlook
Asos guided for underlying core profits of £180 million to £200 million for the current year to August next year, up from earnings reported on Thursday showing a 39% jump to £170.3 million in 2025/26.
The company swung to a bottom line profit, with pre-tax profits of £24.4 million against losses of £281.6 million the previous year, and said group GMV sales returned to growth for the first time in four years over its final quarter.
Like-for-like GMV sales overall fell 5% in the year to August, but cost-cutting measures, including workforce reductions, helped bolster the bottom line and offset rising inflation.
Shares in the FTSE 250 firm rose 6% in morning trading on Thursday. Chris Beauchamp, chief market analyst at IG, commented: "Perhaps the long nightmare for ASOS is over. The fourth quarter recovery in gross merchandise value points towards a continued recovery."
