Category Archives: Asos

Asos to charge shoppers who regularly return large amounts of goods

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Online fashion retailer writes to some customers to say they face £3.95 fee unless they keep up to £40 of order

Asos is to start charging UK shoppers who frequently return large amounts of goods a fee of £3.95 to send items back unless they keep up to £40 worth of their order.

The online fashion retailer, which until now has made free returns of unused items within 14 days an important part of its offer in Britain, has written to some shoppers saying it has updated its “fair use” policy for orders made from 8 October.

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Asos expects sales slump to continue as it is hit by near £300m loss

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Shares plunge after analysts say online fashion retailer may need to raise more cash, possibly through sale of Topshop brand

Asos has warned sales will continue to fall in the year ahead – by much as 15% – after delayed results revealed a near £300m annual loss.

Shares fell almost 10% on Wednesday to 34p after analysts expressed fears that the online fashion retailer would need to raise new cash – potentially through the sale of its Topshop brand – with net debt including leases now at £648.5m, up from £533m a year before.

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Asos cuts profit forecast after wet summer hit sales

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Online fashion retailer says it has reduced its stock levels by 30% amid fall in customer numbers

The online fashion retailer Asos said sales in July and August were hit by wet weather, prompting it to cut its estimate for annual profits.

Asos said the poor weather compounded weaker online demand for clothing. Total sales declined by 15% in the quarter to 3 September, with the UK down 16%. The sales washout resulted in a £60m hit to cashflow. July was the wettest such month in England since 2009.

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Frasers builds 5% stake in Asos to become fourth-largest investor

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Mike Ashley’s increased holding comes after online retailer reported slowing sales and full-year loss

The billionaire retailer Mike Ashley has built up a stake of more than 5% in the online fashion retailer Asos.

His fashion and sportswear retailer Frasers Group informed Asos on Friday that it had become one of the company’s most signifiant shareholders.

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Asos sales weaker than expected as cost of living crisis bites

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August slump leads to online fashion retailer downgrading annual growth forecast to about 2%

Asos said sales in August were weaker than expected and warned that full-year profits would be at the bottom end of its guidance, with the cost of living crisis hitting cash-strapped shoppers.

The online fashion retailer, which made more than £190m in profits last year, expects profits for the year to the end of August to be about £20m.

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Fresh calls for windfall tax on companies that prospered during Covid

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Research highlights six firms that increased their profits by a total of £16bn

Campaigners have issued fresh calls for a windfall tax on companies that prospered during the pandemic, after research highlighted six firms that increased their profits by a total of £16bn.

The outsourcing firm Serco and online clothes retailer Asos were among the companies that saw their global profits more than double over the last financial year, while one investment trust, Scottish Mortgage, saw its returns grow to nine times the average of preceding years.

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Asos issues third profit warning in seven months as shares fall

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Online fashion retailer blames glitch in rollout of European and US automated warehouses

Shares in Asos tumbled on Thursday as the online fashion retailer issued its third profits warning in seven months, blaming problems with the rollout of its new automated warehouses.

The group said sales were hit by the overhaul of warehouses in Berlin and Atlanta, which left the firm struggling to keep up with demand. It now expects to make profits of £30m to £35m this year, far below City forecasts of £55m.

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