forecast full-year sales and profit significantly ahead of market expectations, saying it was benefiting from stronger than anticipated underlying demand and fewer products being returned by shoppers.It forecast pretax profit in the region of 130 million pounds to 150 million pounds ($170-$196 million), up from 33.1 million in 2018-19.LONDON (Reuters) - British online fashion retailer ASOS Several British clothing retailers, including Next In April it raised 247 million pounds in new equity to shore up its finances. However, having identified the root causes of our operational issues, we have made substantial progress over the last few months in resolving them.Retailers protected from evictions until 2021 as gov’t extends ban“Whilst there remains lots of work to be done to get the business back on track, we are now in a more positive position to start the new financial year.”It introduced a sustainable category earlier this year, and yesterday it announced its Marketplace platform will be expanding its charity boutique concept to help raise funds.“This financial year was a pivotal period for Asos, where we have invested significantly and enhanced our global platform capability to drive our future growth,” Asos chief executive Nick Beighton said.
In its interim results for the six month period ending February 28, the online retail giant saw profit before tax come in at £4 million compared to the £29.9 million recorded the year prior. Thu 18 Jul 2019 04.19 EDT 10.16 EDT Asos expects to make profits of £30m to £35m this year, far below City forecasts of £55m. All rights reserved. We'll assume you're ok with this, but you can opt-out if you wish. Find out what consumers are looking for in their seasonal shopping experience in our New Normal Festive Shopping Report. However, last December it surprised investors with a shock profit warning. Cuts 2019 profit expectations to £30-35 million. But those glowing results were followed by a disastrous year of revised profit forecasts. In the six-year period between 2012 and 2019, ASOS quadrupled its worldwide revenue and reached 2.73 billion British pounds as can be seen in this statistic. Asos’ fortunes in the year before this one were also strong—revenues grew 26%.
See said on Tuesday it had also benefitted from a decline in returns, though it assumes the fall will be temporary.Shares in ASOS were up 8.5% at 0734 GMT on Wednesday, extending gains in 2020 to 36% after it said revenue growth for its 2019-20 year was now expected to be between 17% and 19%., have recently reported better than expected trading as Britain emerged from coronavirus lockdown. How retailers approached Back To School season this yearIn a year that has seen the online fashion retailer issue two profit warnings, Asos said it placed 72.3 million orders, with sales in the UK growing the most – up 15 per cent.Amazon reveals that over 90% of listings in most categories are…Meanwhile, sales in the EU saw a rise of 12 per cent, and US sales rose nine per cent.Co-op’s first-half profit doubles as consumers shop locallyIceland’s The Food Warehouse & Bargain Booze unveil partnershipOcado’s market value tops £20bn for the first time, just £1bn...Next “remains resilient” despite 97% drop in half-year profitsOcado’s market value tops £20bn for the first time, just £1bn…Asos profits have plunged by 68 per cent to £33.1 million in the year to August 31, despite sales increasing 13 per cent to £2.73 billion.“Regrettably this was more disruptive than we originally anticipated. Get insights from our poll of 2,000...Made.com welcomes ex-Asos director as COOAsos reduces return costs following customer demand (This story corrects to remove extraneous text in sixth paragraph, syntax in lead)Last month ASOS said it would repay the money it claimed under Britain’s scheme to furlough workers during the crisis. Asos wins over the EU … Asos has enjoyed rapid growth in recent years as it has benefited from the shift towards shopping online. Asos issues second profit warning in seven months as shares fall Online fashion retailer blames glitch in rollout of European and US automated warehouses Published: 18 Jul 2019 What are grocers doing to tackle food poverty?John Lewis Partnership swings to £635m half-year loss & axes bonusDuring this year, Asos swung into a net debt position of £90.5 million, having finished the year to August 2018 with net cash of £42.7 million.Big Interview: Graham Stuart MP, Minister for Exports © Copyright Retail Gazette. Expects to complete warehouse projects by end-Sept.
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