Fashion Retail Trade

Asos Sees Profits

Asos Sees Profits

Asos has hailed a return to profitability as its turnaround strategy delivers, despite posting a 14% drop in revenue.

The online fashion giant said adjusted earnings before interest and tax went up more than £20m on year in the three months ended May 31, putting the retailer on track to achieve adjusted EBIT guidance of £40m to £60m in the second half of the year.

This was aided by roughly £200m of profit optimisation and cost savings in the year to date, with £300m of benefits targeted for the full year.


Related posts

New Foreign Trade Policy has additional benefits

PS NewsDesk

Ralph Lauren opens flagship store in India’s national capital

Perfect Sourcing Newsdesk

American Eagle Outfitters to open 75 Aerie stores

Leave a Comment