Asos has reported early signs of “topline improvement” as its losses narrow, and it has grown new customers.
It reported an adjusted loss before tax of £52.4m in the 26 weeks to March 1, compared to a wider loss of £69.5m during the same period last year.
Adjusted EBITDA improved from £42.5m to £64m, while group revenue declined 14% to £1.1bn.
Its gross merchandise value fell 9%, but Asos said it reflected “positive underlying trends” as the UK outperformed the group.
New customer growth grew 9% in March, reflecting the first month of growth since September 2021.
It has also taken steps to bring relevant fashion products, develop an enhanced shopping experience through the app, and the growth trajectory is showing “early signs of momentum”.
Current trading is in line with expectations, with gross merchandise value showing “sequential improvement” in the third quarter. Adjusted EBITDA is expected to be between £150m and £180m.
In a statement, the retailer said: “The first half of 2026 has seen significant progress and momentum for ASOS, and I would like to thank our ASOSers for their commitment and energy during this period of delivery and transformation.
“We have achieved a lot. Together, we are taking decisive steps towards re-establishing ASOS as a leading online fashion destination. And even more exciting, there’s a lot more to come.”
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