Asos has lowered its full-year expectations for the second time this year after its US and European arms suffered ongoing “operational issues”.
Total group revenue was up 12% to £919.8m for the four months to June 30 with sales in the UK up 16% to £334.1m for the same period.
Despite the increase in sales, the online fashion retailer expects its full-year profits to be in the region of £30-£35m. This is the second profit warning the struggling retailer has issued since December.
Asos has been struggling with ongoing issues with its European and American parts of the business with growth in those two markets “lower than expected”.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.