All Asos articles – Page 2
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ArticleAsos insists turnaround plans on track despite sales fall
Asos insisted its turnaround remained on track, despite a slide in sales over the Christmas trading period and plans to cut more than £300 million (€338.5m) in costs this year to boost profitability. The British fast-fashion online retailer said that group revenues fell by 6 percent year-on-year in the four ...
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ArticleStocks of U.S. footwear companies rebound in Q4
Trading remained very volatile in the fourth quarter of 2022 with the various clusters of our universe of stocks often fluctuating significantly compared with the previous three months. Overall, Shoe Intelligence’s selection of stocks continues to trend water, rising by just over 2 percent on average. Shares of Brazilian footwear ...
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News briefs
Asos names a new board member
The British online fashion retailer Asos has appointed Marie Gulin-Merle as non-executive director. Gulin-Merle has more than 20 years of experience in marketing and digital transformation, working in technology, beauty and fashion. She is currently Google’s global vice president of ads marketing, based in New York, leading all marketing activities ...
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News briefs
Asos appoints a new board member
Asos has appointed Wei Gao as non-executive director of its board. Wei was previously chief operating officer at Hopin, an online events platform, and brings over 16 years of e-commerce and data experience in senior roles at Amazon. Wei will join the board on Feb. 1, 2023 and will ...
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News briefs
Asos’ interim CFO steps down
Asos’ interim chief financial officer, Katy Mecklenburgh, will be leaving to take up a new role as CFO at Softcat, a provider of IT infrastructure. Mecklenburgh will continue in her current role at the British online retailer for the next six months, in line with her notice period, as Asos ...
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ArticleAsos to write off stock as new CEO launches reorganization
Asos is writing off up to £130 million (€150m) of stock and starting a price slashing program to reduce inventory as it embarks on a reorganization of the business under the leadership of its new chief executive, José Antonio Ramos Calamonte. The company had built up inventory to cope with ...
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ArticleAsos in talks to change its debt covenants
Asos is in the final stages of talks with lenders on changing the terms of a £350 million (€406.2m) borrowing facility amid concerns over its cash flow after a credit insurance firm cut cover for suppliers by more than half. The British online fashion retailer said the move will give ...
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ArticleStocks of Brazilian footwear manufacturers outperform in Q3
In the third quarter of 2022, the stock prices of footwear companies and associated sectors monitored by Shoe Intelligence were on average virtually unchanged, falling by less than 3 percent when compared with the previous three months. But, the figure conceals noticeable disparities between the panel’s subsegments. The cohort of ...
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News briefsAsos’ COO and CFO Mat Dunn steps down
Asos’s chief operating officer (COO) and chief financial officer (CFO) Mat Dunn and the board of the British fashion online retailer have agreed a phased plan under which the manager will step down from his roles as the company restructures its executive team. The announcement comes two months after the ...
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ArticleFootwear stocks track global markets lower in Q2
In the second quarter of 2022, footwear stocks declined significantly in line with global markets, which suffered their strongest pullback in decades. In the U.S., the S&P 500 index posted its worst performance in the first half of the year since 1970. Global markets were hit by raising inflation, a ...
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ArticleAsos issues a profit warning as customer returns surge
Asos has warned that profits could slump to as little as £20 million (€23.4m) in the full year ending in August, down from more than £190 million a year earlier as rising inflation prompted customers to return more items. In an unscheduled trading update, the British online fashion retailer ...
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ArticleAsos warns about surging inflation
The British online fashion retailer Asos reported a plunge in first-half profits due to supply chain issues and warned its expectations for a much better second half could be hit by surging inflation. The company also revealed a £14 million (€16.8m) hit from its decision to stop selling clothes in ...
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ArticleBrazilian, Indian footwear stocks outperform in a weak environment
In the first quarter of 2022, the share prices of footwear companies fell sharply, tracking global equity markets lower. But, the Indian and Brazilian companies that we monitor for our stock performance survey outperformed their peers over the period.
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ArticleThe Russian footwear market faces a perfect storm
The Russian market is braced for major turbulence after dozens of footwear brands pulled out of the country following the Russian invasion of Ukraine and the subsequent introduction of international sanctions. Adidas, Nike and Puma have joined the long list of international brands that have quit the country’s market, along ...
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ArticleAsos’ Christmas season revenues disappoint
Asos reported weaker-than-expected sales over the Christmas period due to “challenging” market conditions. Nevertheless, it announced plans to transfer to the London Stock Exchange’s main list by the end of February to be more appealing to large investors. in the four months to Dec. 31, total revenues for the British ...
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ArticleShoe industry marked by IPOs and takeovers in Q4
The footwear industry witnessed further extraordinary finance transactions during the fourth quarter as companies continue to take advantage of the abundant liquidity injected into the financial system by central banks worldwide to shore up the economy after the Covid-19 outbreak last year. Allbirds, the loss-making California-based producer of Wool Runner ...
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ArticleAsos sets new long-term profit goal in bid to reassure investors
Asos has forecast an Ebit profit margin of at least 8 percent over the long-term as it aims to boost investor confidence in the wake of the abrupt exit last month of its chief executive Nick Beighton. The British online fashion retailer wants to increase its international presence, improve partner ...
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News briefs
U.K. retailers call for human rights law to protect supply factory workers
More than 35 retailers, manufacturers and investors including Primark and Asos have demanded the British government make human rights and environmental checks on their global supply chains mandatory by law. In a letter, the group said the Covid-19 crisis highlighted the “fragility of global supply chains” and the vulnerabilities faced ...
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ArticleAsos CEO quits as rising costs lead to profits warning
The chief executive of Asos, Nick Beighton, is departing the British online fashion retailer in a shock move as the company issued a profits warning, citing supply chain issues and rising costs. Asos is facing “notable cost headwinds” including inbound freight fees, wage inflation, outbound delivery costs and Brexit duty. ...
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ArticleFootwear stocks weaker in Q3 on profit-taking
Overall, the price of footwear stocks dropped in the third quarter of 2021 compared with the previous three months on profit-taking after the sector had enjoyed a strong rebound in the first half of the year with the re-opening of the economy, following the easing of Covid-19-related restrictions and the ...
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