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  • Financial Times

    Directors’ Deals: Asos board buys in as shares hit decade-low

    Multiple board members at Asos recently sensed a buying opportunity, after a profit warning caused the fast fashion seller’s shares to drop in value by one third in a single day. The current inflationary storm caused Asos to cut guidance, predicting adjusted profits of between £20mn and £60mn for the year, compared with former consensus estimates of £92mn. The online clothing vendor said that inflationary pressure was “increasingly impacting our customers’ shopping behaviour”, with a higher number of purchases being returned.

  • Financial Times

    Asos warns on profits as customers send back more purchases

    Asos issued another profit warning, sending its shares down by a fifth on Thursday, with the online fashion retailer blaming rising inflation for a growing rate of product returns. The London-based group said it expected adjusted pre-tax profit to be between £20mn and £60mn, a substantial reduction from its previous guidance of £110mn to £140mn. Rival Boohoo also flagged higher rates of returns in a scheduled trading update.

  • Financial Times

    Asos: flagging discretionary spend leaves fast fashion off the pace

    Witness UK-listed Asos. Investors had already pummelled shares in the online fashion retailer as the boom in pandemic ecommerce ended and inflation bit into consumer wallets. What set the Asos downgrade apart was its product returns.