Asos swings to loss as fashion giant warns shoppers may cut back on purchases April 12, 2022 Online fashion giant Asos has said it was hammered by reduced stock availability as it posted a £15.8m pre-tax loss for the six months to the end of February. The company cited “industry-wide supply chain constraints impacting stock availability and ongoing Covid-19 restrictions.” In half year results on Tuesday, the retailer posted four per cent [...]
EasyJet, Asos and Savills among worst companies for gender pay gap April 6, 2022 Easyjet, Asos and Savills are some of the worst UK companies when it comes to gender pay gap, even though differences have narrowed for the second consecutive year. According to an analysis by the Times, while the overall median pay gap went down from 10 to 9.8 per cent on last year’s levels, women at [...]
Fashion retailers Boohoo and ASOS suspend sales to Russia in solidarity with Ukraine as M&S suspends shipments March 3, 2022 Fast fashion retailer Boohoo has become the latest firm to announce it has suspended sales of clothes to Russia. The Manchester-based e-commerce business joins brands such as Asos and Next, as well as designer names such as Burberry, in making a stand. In a update published on the London Stock Exchange, Boohoo said it was [...]
Asos announces move to London’s main market January 13, 2022 Asos announces move to the main market of the London Stock Exchange after 20 years on the junior Aim market
Asos flies in clothes to manage supply chain delays and forced to sell products at a discount January 13, 2022 Online fashion giant Asos said this morning it had to fly in clothes to manage supply chain delays and sold more products at a discount as competition heated up over the autumn months. The company also revealed it suffered from the various lockdowns imposed in Europe as Omicron spread, but sales held up in the [...]
Shortages hit ASOS as Christmas gets closer November 21, 2021 Shortages are reportedly hitting fashion retailer ASOS, forcing the giant to defer orders from suppliers, a few weeks before Christmas. While some suppliers attribute this to labour shortages in the company warehouses, the firm says it is due to the global supply chain crisis, the Sunday Times reported. “We have a robust, professionally organised global [...]
Tesco and ASOS call for legal crackdown on human rights abuse October 22, 2021 Tesco and ASOS are among more than 30 retail businesses and investors have called for a new UK law to prevent human rights abuse. Some 36 household names – including Primark and John Lewis – have issued a joint statement calling for fresh human rights and environmental due diligence law. A legal review by Blackstone [...]
Bleak outlook: Asos ‘not keeping up with fast fashion rivals’ after supply chain pressures October 11, 2021 Online retailer Asos’ share price took a bruising yesterday amid a “massive warning shot across the bows of other online retailers.” The fashion firm’s CEO Nick Beighton made a shock resignation yesterday after six years in the role as shares were down 50 per cent on the year. Shares fell by 14 per cent on [...]
ASOS chief executive Nick Beighton steps down with immediate effect October 11, 2021 ASOS chief executive Nick Beighton is stepping down with immediate effect, the company just confirmed. “A search for his successor will begin shortly,” ASOS said in a statement. In the meantime, Mat Dunn, currently Chief Financial Officer, will become COO of ASOS and lead the business on a day-to-day basis with effect from today. Katy Mecklenburgh, currently [...]
ASOS revenue jumps 20 per cent to £3.9bn October 11, 2021 Online fashion giant ASOS has revealed strong financial results for the year ending August 2021 and announced plans to up revenue to £7bn. Gross profit soared by 15 per cent to stand at £1.8bn as successive Covid lockdowns provided a boost to online shopping with the company’s customer base growing by 13 per cent to [...]