Asos confirms £350m credit facility as shoppers dial back spending October 15, 2022 Troubled fashion retailer Asos has today confirmed it is in the final stages of arranging a £350m credit facility with financial backers, as consumers dial back spending during the cost of living crisis. In a statement today, Asos said the credit facility, which matures in July 2024, would “significantly” boost its financial flexibility against the [...]
Gymshark names former Asos chief Mat Dunn as new CFO September 27, 2022 Gymshark has announced former Asos interim chief Mat Dunn as its new chief financial officer, as the e-commerce sportswear retailer gears up to open its first physical store. Dunn, whose departure was announced from the fast fashion brand a month ago, will join Gymshark in early 2023. His CV boasts a four year stint as [...]
Market wrap: London stays open and sees shares and pound rise September 9, 2022 Markets in London traded as usual on Friday, and saw shares and the pound trade higher. The London Stock Exchange confirmed that it planned to maintain normal opening hours after the death of the Queen, but would close during any public holidays. The FTSE 100 joined an international rally, which saw global markets break out [...]
Asos warn on profits as cost of living crisis hits consumers September 9, 2022 Asos has cautioned over profits after sales fell below expectations in August as consumers tightened their belts in response to rising bills. The online fashion giant said it saw “good growth” in June and July and expects total sales for the year to August 31 to remain within market expectations. However, it said it is [...]
Asos shares slip after fashion marketplace reminded analysts of lower profit guidance September 5, 2022 Asos saw its share price tumble on Monday, alongside several retailers including Joules and THG. The share slide followed reports that the online fashion marketplace had privately reminded City analysts on subdued guidance for the year ahead, as is a standard pre-close practice. Asos shares were subdued by almost six per cent on Monday afternoon, [...]
Matalan eyes up sale as British retailers continue to feel sting September 4, 2022 Matalan's founders are eyeing up a sale, as the fashion firm struggles to fight off inflationary pressure.
London’s FTSE 100 edges lower as economic gloom knocks risk appetite August 31, 2022 London’s FTSE 100 posted a damp day today driven by economic gloom hitting investors’ risk appetite. The capital’s premier index dropped 1.05 per cent to 7,284.15 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.45 per cent to 19,063.75 points. A recent string [...]
Asos shares slip after top exec announces departure August 17, 2022 The ASOS board have agreed a phased plan under which Mat Dunn, Chief Operating Officer and Chief Financial Officer, will step down from his roles as ASOS restructures its executive team.
The bubble has burst for tech firms built on hype but solid businesses will keep growing August 16, 2022 As tech companies struggle to keep up with puffed up valuations, the sturdy - albeit less glamorous - firms will see long term growth.
Zalando chief cuts marketing rather than jobs as the retailer battles inflationary pressures August 14, 2022 European fashion giant Zalando chief has said the company is turning to marketing cuts rather than job cuts as the sector grapples with a consumer spending slowdown.