Why Asos shares have shrugged off warehouse fire damage news June 23, 2014 Despite slumping by around three per cent in early trading, Asos shares have seen a recovery after Friday's warehouse fire. Traders have been waiting until today to respond to a fire at the company's Barnsley distribution centre, where around 70 per cent of the company's total stock is held. South Yorkshire Police are treating the [...]
Asos share price drops by 3pc after Barnsley warehouse fire June 23, 2014 After a fire at its Barnsley distribution centre, shares in online fashion retailer Asos dropped by more than three per cent this morning as trading resumed after the weekend. The warehouse fire saw the site closed for orders this weekend, and despite being "fully insured for loss of stock and business interruption" the company's stock [...]
After share price crash Asos warns on profits and investors slam Morrisons June 5, 2014 SOME of Britain’s biggest retailers were left reeling yesterday after a profits warning from Asos spooked investors and supermarket bosses came under a fierce verbal attack from angry shareholders. Asos shares crashed 31 per cent, wiping £1.2bn off its market value, after the online fashion retailer warned that a strong pound and a rise in [...]
London Report: FTSE in slight slip but Asos crashes on Aim June 5, 2014 THE FTSE 100 yesterday ended lower, as the country’s equities were hit by a stronger pound in the wake of a round of aggressive stimulus measures from the European Central Bank. As the ECB cut its main lending rate to 0.15 per cent from 0.25 per cent – and the interest rate on its deposit [...]
Asos share price crashes 42pc as it slashes margin guidance June 5, 2014 A shock announcement from Asos this morning. The online fashion retailer has cut its full-year operating profit margin from 6.5 per cent to 4.5 per cent. Investors have reacted with extreme wariness – the share price has just slumped over 42 per cent. Asos has been heading off the impact of a flurry of competition, heavy [...]
Expansion costs knock a fifth off profits at Asos April 2, 2014 ASOS boss Nick Robertson admitted yesterday that launching in China had been tougher than anticipated after start-up losses in the country and investment in expanding warehouses elsewhere dragged first half profits down by 22 per cent. The online fashion retailer made a pre-tax profit of £20.1m in the six months to 28 February compared with [...]
Asos’ profit takes a hit as retailer announces £2.5bn sales goal April 2, 2014 Asos has announced a 22 per cent fall in profit before tax to £20.1m the six months to February, as heavy investment in customer proposition, infrastructure, personnel and capacity takes its toll. But expansion costs were expected by and for the fashion retailer, and Numis has described it as “loaded with investment for growth” this morning. [...]
Shares plunge as Asos ramps up investment March 18, 2014 ASOS shares plunged eight per cent yesterday after the online fashion retailer said it will ramp up spending on warehouses to meet growing demand at the expense of short term profits. Chief executive Nick Robertson said it will lift capital expenditure this year to £68m from the £55m previously forecast as it accelerates its investment [...]
Asos’ profits warning is crushing online retailers March 18, 2014 This morning, Asos chief Nick Robertson delivered the surprise warning that the company’s earnings margin will decline this year to around 6.5 per cent. Shares crashed over 20 per cent on the news. The reason given is that the store’s upping its investment in warehouses in Europe, along with its new venture in China, and [...]
Asos shares are crashing on chief’s warning March 18, 2014 Asos has reported retail sales up 26 per cent year-on-year in the first two months of 2014 and is, it says, confident of hitting sales of £1bn for 2013/14. But shares have crashed over 20 per cent this morning, following chief executive Nick Robertson’s warning that the company's earnings margin will shrink this year to [...]