Asos issues profit warning due to ‘operational issues’

Asos package

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”.

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