Asos suspends website after warehouse fire June 23, 2014 ASOS will this morning attempt to reassure investors after a fire at its main warehouse in Yorkshire forced the online fashion giant to suspend trading on its website. More than 50 firefighters and 10 fire engines were sent late on Friday night to put out the blaze at Asos’ 530,000 square feet distribution centre in [...]
The perfect fit: Meet Girl Meets Dress co-founder Xavier de Lecaros Aquise June 23, 2014 Harriet Green talks true grit with Girl Meets Dress co-founder Xavier de Lecaros Aquise. Advocates of the sharing economy, otherwise known as collaborative consumption, claim that it is finally reaching a mainstream audience. Earlier this month, for example, the government announced reforms to outdated legislation, ending long-running questions over the legal status of ultra short-term [...]
Index Ventures eyes up London for £325m fund June 10, 2014 INDEX Ventures, which invested in the recently floated Just Eat and King, will today unveil its seventh early stage fund as the venture capital firm increasingly looks to London for startups with an ambition to become global leaders in their fields. While the new £325m fund would be spread over investments across Europe, the US [...]
Best of the Brokers for 09 June 2014 June 9, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com THOMAS COOKBerenberg have launched coverage of Thomas Cook Group with a “buy” rating and a target price of 200p. The broker believes that while there are structural challenges in the tourism industry, management efforts at Thomas Cook are likely to lead to improved [...]
Ladies by a head at sun-soaked Epsom June 7, 2014 THE SUN came out to meet the millenary yesterday as Investec Epsom Ladies Day got underway. There was all sorts of fashion to be seen from tartan to frilly tutus, but the Harvey Nichols fashion scouts and star fashion judge Mariella Tandy managed to pick out six ladies for the best dressed final. “It’s been [...]
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 [...]
Bottom Line: Everyone loves a sale – and Asos shares are in middle of a big one June 5, 2014 ALMOST every other day, Asos customers are sent promo emails alerting them to the latest offer on the retailer’s vast fashion website: 25 per cent off dresses; save on festival fashion; free delivery on men’s hats. Yesterday, the tables were turned. Investors hit the sell button on Asos shares, sending them into freefall to end [...]
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 [...]
Retailer share prices are crashing. Here’s what you need to know about the sell-off June 5, 2014 An unexpected profit warning from online retailer Asos has investors very worried about the health of the sector generally. Asos shares opened more than 40 per cent lower after it announced that it had been forced to slash its full-year profit margin guidance. The key paragraph comes from CEO Nick Robertson: The resultant higher mix [...]
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 [...]