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Card-skimming devices found at H&M stores

Several H&M stores in Sweden have discovered so-called skimming devices on their card readers in Linköping, Täby, Löddeköpinge and Malmö.

Card-skimming devices found at H&M stores
Photo: Rafael Vargas (file)

The stores have since made police reports.

On Wednesday morning, staff discovered a skimming device on the card reader at one of the counters at the store in the Mobilia mall in Malmö. Anyone who paid by card at that checkout may have had their data copied.

Earlier this week, similar equipment was found at an H&M store in Löddeköpinge. According to H&M, two other stores are under suspicion of card reader manipulation: a location in Linköping on July 15th and one in Täby north of Stockholm on Sunday.

“This is something we discovered thanks to our security,” said Anna Berger of H&M’s press service.

The number of customers who may have had their cards skimmed remains unclear. Primarily, it is a matter between the customer and the card issuer.

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BUSINESS

Swedish retailer H&M sees profits slump after Russia exit

Swedish fashion retailer H&M reported a sizeable drop in third-quarter profit on Thursday following its decision to leave the Russian market.

Swedish retailer H&M sees profits slump after Russia exit

The world’s number two clothing group is among a slew of Western companies that have exited Russia following Moscow’s invasion of Ukraine.

H&M paused all sales in the country in March and announced in July that it would wind down operations, although it would reopen stores for “a limited period of time” to offload its remaining inventory.

The company said Thursday its net profit fell to 531 million kronor ($47 million) in the third quarter, down 89 percent from the same period last year. “The third quarter has largely been impacted by our decision to pause sales and then wind down the business in Russia,” chief executive Helena Helmersson said in a statement.

The group said in its earnings statement that it would launch cost-cutting measures that would result in savings totalling two billion kronor.

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