All Asos articles
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ArticleAsos’ losses widen but excess stock cuts ahead of target
Asos’ half-year losses widened as the British online fast-fashion retailer continued to deal with competition from its Chinese rival Shein, but it was ahead of target on shifting the mountain of excess stock built up during the Covid-19 pandemic. The company reported an adjusted loss before tax of £120 million ...
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ArticleAsos, Boohoo, George at Asda commit to green claim rules in the UK
The UK’s Competition and Markets Authority (CMA) said that Asos, Boohoo and George at Asda have signed undertakings that commit them to an agreed set of rules around the use of green claims. The regulator also issued an open letter urging fashion retailers to review their claims and practices in ...
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ArticleAsos’ sales plunge 18% in the first half but guidance maintained
Asos reported a sharp fall in sales for the first half of its fiscal year due to slowing demand and large discounts to clear excess stock, but the British online fashion retailer insisted that its turnaround plan was on track and maintained annual guidance. Sales plunged by 18 percent in ...
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ArticleThe stocks of footwear companies inched up in Q4
The prices of stocks monitored by Shoe Intelligence grew by 4 percent on average in the fourth quarter of 2023, compared with the previous three months, but trading remained volatile, with significant fluctuations among the companies of the cohort. The quarter was marked by the initial public offering (IPO) of ...
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Frasers hikes its stake in Asos to nearly 26%
Frasers Group has increased its stake in the British online fashion retailer Asos to 25.96 percent through a series of transactions in January, according to filings with the London Stock Exchange. At the end of December, the stake stood at 17.88 percent. Based on the latest filing on Jan.18, 17.11 ...
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Frasers hikes its stake in Asos
Frasers Group has increased its stake in the British online fashion retailer Asos to 19.52 percent from 19.00 percent, according to a filing with the London Stock Exchange. Based on the filing, 12.74 percent of the voting rights are held through shares and the remaining 6.78 percent through financial instruments, ...
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Asos posts a full-year loss
Asos posted an adjusted pretax loss of £70.3 million (€80.8m) in the fiscal year ended Sept. 3, compared with a profit of £22 million the prior year, as adjusted revenues fell by a like-for-like 11 percent to £3,538 million (€4,068m). Adjusted Ebitda fell to £124.5 million (€143.1m) from £183.9 million ...
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Asos appoints William Barker to its board
Asos has appointed William Barker as a non-executive director. Barker is the founder and CEO of Camelot Capital Partners, a California-based investment management company. Camelot Partners holds 16,722,381 ordinary shares in Asos, representing 14.02 percent of the issued share capital of the British online fashion retailer. “Asos has a long-standing ...
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ArticleFrasers increases its stakes in Boohoo and Asos
Mike Ashley’s Frasers Group has again increased its stake in Boohoo, just days after doing the same at Asos, another British fast fashion e-tailer. In two days, Frasers, the owner of Flannels and Sports Direct, among others, lifted its stake in Boohoo to 10.42 percent from 7.8 percent, meaning it ...
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ArticleThe stocks of footwear companies slip led by British firms
The prices of stocks monitored by Shoe Intelligence fell by 7 percent in the second quarter of 2023 compared with the previous three months, when the cohort gained about 5 percent. Shares were driven lower by British constituents of the panel. Some companies were hit by worrisome financial situations, but ...
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Frasers buys a stake in Boohoo
Regulatory filings showed that Frasers Group bought 63.5 million Boohoo shares, or 5 percent of the capital of the U.K. online fashion retailer. It also bought an 8.9 percent stake in Currys, a British retailer of domestic appliances and electronics. “We see potential synergies and an opportunity to strengthen ...
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ArticleAsos returns to profitability and Frasers Group lifts its stake
Asos, the struggling British online fashion retailer, returned to profitability in the third quarter and said its turnaround strategy was starting to bear fruit, prompting Frasers Group to lift its stake in the company to 10.6 percent. Adjusted Ebit rose more than £20 million (€23.3m) in the three months to ...
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Asos suppliers reportedly cutting ties over credit insurance worries
Suppliers to Asos are reportedly cutting ties with the fast fashion retailer over credit insurance concerns. They are responding to insurers reducing or withdrawing trade credit insurance following a slide in earnings at the British online fashion retailer. Allianz Trade is understood to have withdrawn cover entirely, while Atradius has ...
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Asos out of fashion as shares dumped from FTSE 250
The British fast fashion retailer Asos, once valued at more than £7 billion (€8bn), has been relegated from London’s FTSE 250 index of mid-sized companies, a sign of how its performance has declined in the post-Covid pandemic recovery. Its shares were worth 333 pence each on June 1, giving it ...
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Asos reportedly received a more than £1bn takeover approach in December
The Sunday Times reported that Asos had last December received a more than £1 billion (€1.5bn) approach from Trendyol, a Turkish company backed by the Chinese online giant Alibaba. A deal would have valued the British retailer at between £10 (£11.6) and £12 (13.9) per share, valuing the company at ...
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ArticleAsos raises £80m by issuing shares
Asos raised about £80 million (€92.1m) of gross process by selling newly issued ordinary shares, but there is concern that the British online fashion retailer will need further cash to finance its restructuring. The shares were sold at 418.1 pence (€4.81) each. The proceeds will support the company’s Driving Change ...
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Asos may have to focus on cash preservation
Asos may have to focus on preserving its cash this year rather than investing to bolster growth, according to the U.S. bank Citi. It believes that the British online fashion retailer could suspend most of its capital expenditure in automation while continuing to rationalize its inventory position and controling ...
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ArticleAsos’ losses widen as shoppers cut back on spending
Asos reported wider interim losses as shoppers cut back on spending amid the cost of living crisis in the U.K. Financial analysts are divided on the company’s future prospects with one broker warning that the troubled company may have to raise more cash. In the first half ended Feb. 28, ...
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Asos appoints two non-executive directors
Asos has appointed Natasja Laheij and Jose Manuel Martinéz Gutiérrez as independent non-executive directors to its board as of April 11, 2023. Laheij has more than 25 years of experience in international commercial & financial management, e-commerce, tech, consumer electronics, telco and retail in B2C and B2B environments through her ...
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News briefsAsos hires ex Matchesfashion finance boss as interim CFO
Asos has appointed former Matchesfashion chief financial officer Sean Glithero as its new interim CFO as the British online fashion retailer pursues its ‘Driving Change’ transformation programme. Glithero will replace the current interim CFO Katy Mecklenburgh, who leaves in May. He has already joined the company to allow for a ...
