Asos replaces finance chief after just one year Retail Asos’ chief finance officer Dave Murray has stepped down from his role after 15 months as the struggling commerce giant continued to push a turnaround. He will be replace by Aaron Izzard, who currently serves as director of group finance at Asos. Murray, who will leave to “pursue other opportunities”, has helmed Asos’ finance division [...]
Asos: Losses narrow as e-commerce giant drives turnaround Retail Struggling ecommerce giant Asos has reported reduced losses as its turnaround plan begins to take shape. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) moved into positive territory at £42.5m in the 26 weeks to March 2, from a loss of £16.3m last year. Its share price dipped by nearly two per cent in [...]
Asos and Boohoo stick to US closures despite Trump tariffs Retail Asos is to continue with its plan to close its distribution centre in Georgia, USA, and serve the country from Yorkshire despite the imposition of President Donald Trump’s tariffs. At the start of the year, the fast-fashion group announced plans to close its US base in another effort to boost profitability and streamline operations. The [...]
UK retailers claw back losses as wave of selling turns to opportunistic buying April 7, 2025 Heavyweight UK retailers clawed back some of their losses on Monday afternoon as the morning’s sell-off turned to buying. The FTSE 350 general retail index had dropped by as much as four per cent in early trades, but later stabilised to minus 2.8 per cent. Even UK retailers with very little presence in the US, [...]
Asos shares spike on positive trading update March 21, 2025 Asos shares rose by over a fifth this morning after the company posted a better than expected market update. The e-commerce retailer told markets that it expects a “significant improvement in profitability” this year, adding that its own brand full-price sales have returned to growth. Investors reacted positively to the news. Asos’ share price had [...]
Asos shares plunge as investors lose confidence March 17, 2025 Asos shares have slumped more than eight per cent in early deals this morning, extending losses recorded over the past few months as investors have lost confidence in the retailer’s turnaround plan. The e-commerce firm’s share price has dropped by a third in the last month and has fallen by half since the start of [...]
Retail stocks: Luxury pulls ahead while fast-fashion brands Asos and Primark lag February 20, 2025 Luxury stocks have started to outperform high streets brands once again as investors bet on a luxury upswing. Brands which struggled last year – like Burberry and Kering – are bouncing back, while brick-and-mortar reliant firms like Primark are struggling. The ten largest luxury retailers by market cap have seen their stock price rise by [...]
Former Asda and M&S boss Lord Rose: WFH is ‘not doing proper work’ January 20, 2025 The increase in home work has created a generation who are “not doing proper work,” according to the former boss of Asda and Marks & Spencer. Speaking to BBC Panorama, Lord Rose said more working from home was a part of the UK economy’s “general decline” and that productivity was suffering as a result. “We [...]
Asos to close US distribution centre with customers served from Barnsley instead January 15, 2025 Online fashion retailer Asos will close its distribution centre in Georgia, USA, in another effort to boost profitability and streamline operations. From late this year, US customers will be served from Asos’ automated UK fulfilment centre in Barnsley, and through a “smaller, more flexible local US site”, the company said. The Atlanta warehouse will be [...]
Sell Asos and buy Currys says City broker January 6, 2025 Analysts have backed Currys as their most preferred consumer stock of the year whilst warning investors away from struggling online marketplace Asos. Panmure Liberum analysts set a target price for Currys at 155p versus its current price of 94.25p. The tech retailer had a strong run last year, with its stock up more than 90 [...]