UK fashion retailer ASOS warns on profit after weak August

Date:

Share post:

[ad_1]

Sign up now for unlimited access to Reuters.com

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.”

Sign up now for unlimited access to Reuters.com

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)

Sign up now for unlimited access to Reuters.com

Reported by Paul Sandle; Edited by William James and Edmund Blair

Our Standards: The Thomson Reuters Trust Principles.

[ad_2]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

New Soundboard Review: Pricing is Not Always the Only Criteria

I actually first read this as alkalizing meaning effecting pH level, and I was like, OK I guess...

Technology Will Help Keep Your Smartphone from Becoming Obsolete

I actually first read this as alkalizing meaning effecting pH level, and I was like, OK I guess...

Hottest Wearable Tech and Smart Gadgets of 2022 Will Blow Your Mind

I actually first read this as alkalizing meaning effecting pH level, and I was like, OK I guess...

Things to Look For in a Financial Trading Platform Environment

I actually first read this as alkalizing meaning effecting pH level, and I was like, OK I guess...