Asos returns to profit as cyber attack ‘not a big thing’

Asos has returned to profit despite the cyber attack that rocked the fast-fashion seller last month, as its boss insisted the incident was not a big thing . 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 per cent of the group’s gross merchandise value (GMV) in October. The group typically generates £200m in GMV each month, valuing the impact of lost sales due to the incident at between £4m and £8m. Chief executive José Antonio Ramos said he is confident the group s turnaround efforts have not been derailed by the attack. He told reporters on Thursday: We re confident that this [impact] is going to dilute over time. So I don t think that it is such a big thing, to be honest. Ramos has been leading turnaround efforts to reduce the retailer’s stock, simplify its supply chain and boost its margins since takin