Investigates hacking claims as retail cyber risks spread

H&M is looking into allegations of a potential cyberattack after claims that hackers involved in a recent ASOS breach also targeted the Swedish retailer. The Times said the investigation is based on information circulating online, while H&M stated it found no indication that its data environment was compromised. The shares dropped about 1.4% in Stockholm trading on Monday, October 12. The concern stems from a confirmed ASOS incident: attackers obtained employee login credentials via social engineering and then accessed customer information stored on third-party platforms. ASOS said payment card details and account passwords were not accessed and that its website and app remained operational. The hackers’ broader Snowflake claims were not independently verified.