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LONDON, Sept 9 (Reuters) – British online fashion retailer ASOS ( ASOS.L ) said sales were weak in August, expected to be under pressure from consumers and that its full-year profit would be at the bottom end of guidance.
“After seeing good growth in June and July, sales in August were weaker than expected,” he said on Friday.
“This reflected the impact of accelerating inflation on consumers and the slow start to autumn/winter shopping.”
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The company said in constant currency that sales would rise 2 percent in the year to the end of August, while net debt would be 150 million pounds ($174 million), below market consensus and company guidance.
Adjusted pre-tax profit for June is forecast to be between £20m and £60m.
He maintained a cautious outlook on consumer spending but said he was “managing the business for the current environment.”
($1 = 0.8624 pounds)
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Reported by Paul Sandle; Edited by William James and Edmund Blair
Our Standards: The Thomson Reuters Trust Principles.
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