|Bid||2,450.00 x 7100|
|Ask||0.00 x 4200|
|Day's Range||3,058.00 - 3,164.00|
|52 Week Range||2,114.00 - 7,138.00|
|Beta (3Y Monthly)||1.96|
|PE Ratio (TTM)||31.77|
|Earnings Date||Apr 10, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4,263.19|
Dec.17 -- Asos Plc plunged the most in 4 1/2 years after warning that its Christmas shopping season got off to a disastrous start, showing that Europe’s retail apocalypse is spreading from bricks-and-mortar stores to e-commerce. Lucy MacDonald, chief investment officer of global equities at Allianz Global Investors, discusses the state of the industry on "Bloomberg Markets: European Open."
ASOS's new U.S warehouse struggled to cope with demand in its latest quarter, hitting sales there and adding to challenges in France and Germany, the British online fashion retailer said on Tuesday. The news was the latest setback for the one-time market darling following a shock profit warning in December, and sent its shares down as much as 13 percent. Chief Executive Nick Beighton said the company's U.S performance was behind plan because higher-than-expected demand at its new facility in Atlanta caused a significant despatch backlog, which had now been cleared.
Asos on Tuesday admitted it had got off to a faltering start in its efforts to crack America, as it struggled to meet demand across the pond. AIM-listed Asos, which sells its own clothing brand as well as labels such as Barbour and Fred Perry, opened its first US warehouse in Atlanta last month to give customers more choice. Asos chief executive Nick Beighton said demand from shoppers after the opening was at levels he had not seen for nine years and far exceeded expectations.
British online retailer ASOS said its new U.S. warehouse in Atlanta had struggled to cope with demand in its second quarter, resulting in a dip in U.S. sales and adding to challenges in the French and German markets. Chief Executive Nick Beighton said the U.S performance of the company, which targets fashion-conscious millennials, was behind plan because higher-than-expected demand at its new facility caused a significant despatch backlog, which had now been cleared. "These delayed shipments will be recognised in (quarter three) and U.S. trading is now regaining momentum," Beighton said on Tuesday.
Asos Plc fell the most since December after second-quarter sales growth fell short of the online fashion retailer’s already reduced full-year target. Asos’s retail sales rose 11 percent in the three months ended Feb. 28, leaving it playing catch-up to reach its target. The restrained update from an online retailer that competes with Amazon.com Inc. and has furnished fashions to the likes of Meghan Markle shows that the U.K.’s retail crisis is not just impacting bricks-and-mortar stores.
European equities opened steady as mining shares climbed amid higher copper prices and Asos Plc tumbled on a sales update. Rio Tinto Plc added 0.6 percent, while retailer Asos slumped 12 percent as it maintained full-year revenue growth guidance after a December profit warning. Evraz Plc fell 5.5 percent after Billionaire Roman Abramovich and his partners sold 1.8 percent of the steelmaker through an accelerated book build.
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Within minutes, firefighters were tackling a blaze that eventually reduced the five-floor facility in southern England to a tangle of smoking metal. Later that day, Ocado executives presented quarterly earnings in a conference room in London. Chief Executive Officer Tim Steiner touted the virtues of the company’s robotic warehouses, laying out plans for Andover.
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Next reduced its profit outlook by £4 million due to a lower margin on seasonal sales and higher operational costs despite good Christmas sales.
British fashion retailer Asos PLC/ADR (OTC: ASOMY) shares are down 44 percent since Friday after the company released a profit warning. Beighton reportedly said that November was a very material month for Asos from both a sales and cash margin perspective, and that it fell significantly behind expectations. Sports Direct International PLC ADR (OTC: SDISY) CEO Mike Ashley also reiterated how difficult November was for retail.
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By Muvija M (Reuters) - UK shares fell sharply on Monday, as a profit warning from online fashion store ASOS reverberated across Europe and reinforced woes about slow sales during the busy holiday season, ...
Online fashion group ASOS fuelled a Christmas crisis in Britain's retail industry with a profit warning highlighting a major downturn in trading last month, sending its shares 39 percent lower and unnerving rivals. The warning from ASOS, whose shares fell close to a four-year low, showed that even previously high-flying online-only clothing retailers were not immune to a deterioration in consumer sentiment. Stocks in other British clothing groups fell on fears of poor trading before Christmas when they do much of their business.
The online clothing seller issued a severe profit warning on Monday. To some extent, it’s a surprise that the first seasonal shocker has come from Asos. The conventional wisdom goes that internet retailers should be in a better position that beleaguered bricks and mortar stores when a squeeze on shopping comes.
Shares in Asos crashed 37 per cent on Monday after the online retailer warned it had experienced a “significant deterioration” in trading. Asos warned sales would grow 15 per cent in the year to August 2019 down from an expected 20-25 per cent while its profit margin will fall from 4 per cent to 2 per cent. Sales in the important trading month of November were below expectations and Asos said the outlook remains “challenging”.