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 [...]
Further oil price gains boosts FTSE 100 October 11, 2021 Further gains in oil prices boosted industrial stocks this morning, lifting the FTSE 100 into positive territory. The capital’s premier index was up 0.12 per cent to 7,104.27 points during the first couple of hours of trading. Industrials led the FTSE higher this morning, with oil megacaps BP and Royal Dutch Shell both climbing more [...]
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 [...]
Asos expected to reveal sales boosted by post freedom day shopping October 10, 2021 Online fashion retailer Asos is expected to outline a slowdown in sales growth this week as its profit margins take a hammering from global freight shortages. The fashion giant saw sales jump during the pandemic as shoppers turned to online shops for comfortable clothes to lock down in. Analysts said they anticipated freight shortages, currency [...]
Shakespeare on branding: A Lidl marketing stunt goes a long way October 4, 2021 Lidl might not come to mind as quickly as Nike, Adidas, Converse, or Veja when it comes to trendy footwear brands. But in September 2021, the low-budget German supermarket may have (temporarily) joined their ranks – following reports that its new line of £12.99 trainers were selling on eBay for considerably more than face value. [...]
ASOS brings 180 jobs to Northern Ireland as it launches tech hub in Belfast September 28, 2021 Northern Ireland’s Economy Minister Gordon Lyons this morning announced that online fashion retailer ASOS will invest £14m in a new Tech Hub in Belfast which will create 184 new jobs over the next three years. The new Belfast hub will be operational in early 2022, with 52 dedicated roles in the first year, growing to [...]
Fashion firm Asos joins forces with esports brand Fnatic September 24, 2021 Fashion retailer Asos and gaming brand Fnatic have inked a multi-million pound deal for a three-year partnership. London-based global esports brand Fnatic said they would launch a number of online and offline activations with the online retailer. It is the first time Asos has joined forces with an espots brand and the fashion firm’s logo [...]
Fashion firm Asos joins forces with esports brand Fnatic – CityAM : CityAM September 24, 2021 Fashion retailer Asos and gaming brand Fnatic have inked a multi-million pound deal for a three-year partnership. London-based global esports brand Fnatic said they would launch a number of online and offline activations with the online retailer. It is the first time Asos has joined forces with an espots brand and the fashion firm’s logo [...]
Shakespeare on advertising: Asos’ sustainability push much-needed September 22, 2021 ASOS, the online clothing retailer, recently announced a target of zero net carbon emissions by the year 2030. It’s a move that comes following ongoing criticisms of the environmental impact of “fast” fashion organisations – and one that YouGov Plan & Track data shows may be a deft commercial move as well. Nearly one in [...]