Online fashion firm Asos has revealed widening losses after half-year sales plunged by nearly a fifth as it presses ahead with “necessary action” to turn the business around. The group posted ...

As of 20 March, the consensus compiled by Asos for H1 FY25, based on nine contributors, is as follows: total sales growth at -13%, adjusted EBITDA of £34m and an adjusted EBITDA margin of 2.6%.

Shares in ASOS surged after the group said it forecasts a meaningful improvement in profitability as well as earnings ahead of market views for the first half of its fiscal year 2025. The stock was 21 ...

Asos told the City that it expects a “significant improvement” in profitability during the first half of the financial year.

Asos has endured a torrid post-Covid trading environment with sales and customer numbers falling sharply from lockdown-era highs, and the group forced into painful stock clearance costs.

The company attributes the anticipated financial improvements to a strong gross margin performance, resulting from reduced markdown activity and a higher proportion of full-price sales, coupled with ...

For the period, Asos grew UK sales by 25% to £289.5m, while group revenue were up 21% to £667.3m. Pre-tax profits, meanwhile, grew 18% to £21.2m despite the failure of its Chinese operation, which ...