Asos asks suppliers for 3% discount in effort to repair finances

Move by online retailer follows share-price collapse after second profits warningThe online fashion retailer Asos has asked its suppliers for 3% discount on the clothes and accessories it buys from them, as the company struggles to repair its finances after issuing two profit warnings.Asos’s share price collapsed last month after a second profits downgrade in seven months. The retailer blamed IT problems at its overseas warehouses. Continue reading...