Mike Ashley’s Frasers raises Boohoo stake to 16.5 per cent October 25, 2023 Frasers, the British sportswear group controlled by Mike Ashley, has raised its stake in online fashion retailer Boohoo to 16.5 per cent, according to a regulatory filing published on Wednesday. The group previously held 15.12 per cent. Frasers, formerly called Sports Direct, said in June its purchase of Boohoo shares was consistent with its strategy [...]
ASOS: Transformation plan on track as firm cuts marketing to ‘least profitable’ customers September 26, 2023 Reduced marketing spend and restrictions on buy now pay later have rooted out Asos' least profitable customers
Asos: All eyes on pandemic poster child’s turnaround results September 24, 2023 Investors will turn their focus to online retailer Asos’s trading update on Tuesday to see if the digital fashion store has shown signs of a rebound, following its ongoing turnaround plan and bid to pick up the pieces after a post-pandemic lull. Asos was once the poster child of pandemic success, at its height buying [...]
Digital stores predicted to appear on the high street as automation threatens retail jobs June 19, 2023 Large e-commerce stores are likely to crop up as physical stores across the UK high street in the next five to ten years, according to predictions aided by AI. Money saving website Savoo used AI to visualise the future of the British high street and it suggested more than 11,000 chain stores would disappear by [...]
Asos drive to turn “stock into cash” by buying less and flogging discounted old items June 15, 2023 Asos is buying less stock and ramping up sales of its current items in the latest efforts to boost profit, as the struggling online retailer steams ahead with its turnaround plan – posting a £20m rise in earnings. The fashion brand said it is on-track to deliver adjusted earnings before interest and taxes (EBIT) guidance [...]
Asos suppliers cut ties amid struggling share price and profits June 7, 2023 Asos suppliers have reportedly begun to cut ties with the struggling fashion website following a move by credit insurers to pull cover amid falling profits, in a fresh knock of confidence for the brand. Leading creditors at Allianz Trade, formerly Euler Hermes, withdrew cover for suppliers last month, according to The Times, due to a [...]
Asos share price leaps after report of £1bn takeover bid June 5, 2023 Asos‘s share price jumped 11.8 per cent this morning after a report emerged yesterday that the struggling retail chain received a £1bn takeover bid from a Turkish retailer backed by Chinese e-commerce giant Alibaba. Trendyol, an up-and-coming fast fashion retailer, was understood to have approached Asos in late December, according to a report in The [...]
Asos approached in £1bn takeover bid by Turkish fast fashion peer June 4, 2023 A Turkish retailer backed by Chinese e-commerce giant Alibaba has reportedly offered a £1bn bid to take over Asos, in a fresh knock of confidence for the future of the digital fashion brand. Trendyol, an up-and-coming fast fashion retailer, was understood to have approached Asos in late December, when the brand was facing dwindling sales [...]
Asos share price in focus after £75m cash call May 26, 2023 Asos has tapped shareholders for £75m as the loss making retailer attempts to repair its balance sheet. The pure-play digital retailer revealed the plans to investors yesterday, with the fundraising underwritten by three shareholders including Danish billionaire Anders Povlsen, the owner of Bestseller through his investment vehicle. In a separate cash building move, Asos also [...]
FTSE 100 close: ASOS shares nosedive 22 per cent after posting dim results May 10, 2023 London’s FTSE 100 slipped in the City today as online fashion retailer ASOS was pummelled after a dim set of results. The capital’s premier index shed 0.29 per cent to close at 7,741.32 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.15 per [...]