|Bid||2,336.00 x 0|
|Ask||2,340.00 x 0|
|Day's Range||2,248.00 - 2,357.42|
|52 Week Range||2,033.00 - 6,256.00|
|Beta (3Y Monthly)||1.52|
|PE Ratio (TTM)||32.15|
|Earnings Date||Oct 16, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4,263.19|
British online fashion retailer ASOS warned on profits for the third time since December, saying problems ramping up warehouses in the United States and Germany had restricted product availability, hitting sales and raising costs. "The major overhaul of our infrastructure has been bumpier and taken a lot longer than we originally anticipated," Chief Executive Nick Beighton said on a conference call with analysts. Last year, H&M, the world's second-biggest fashion retailer, experienced glitches as it worked to speed up its logistics systems.
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ASOS, whose current offers feature one-shoulder mini dresses for 25 pounds ($33) and jumpsuits for 40.50 pounds, was one of the first purely online clothing retailers in the UK. Changing consumer habits have led to heavy discounting in the fashion sector as shoppers use the Internet to compare prices. Meanwhile, uncertainty over Britain's exit from the European Union has dampened consumer demand in ASOS's domestic market, which accounts for around one third of sales.
The stock was still well below its 41.86 pounds level before a shock profit warning in mid December. The company, which sells brands ranging from Abercromie and Fitch to Superdry as well as its own collections like its ASOS Design label, is investing heavily in its technology platforms and infrastructure such as warehouses and distribution centres. "ASOS is capable of a lot more," said Chief Executive Officer Nick Beighton in a statement.
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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.