Where Asos profits will come from is anyone's guess

Online fashion retailer believes large-scale profits will arrive eventually but there are two big problemsOnline-only clothing retailer Asos has invested about £700m of capital in the past five years on the theory that a pot of gold awaits the company that can become “the world’s leading fashion destination for twentysomethings.” As the investment splurge reaches its intended peak, where do profits stand? Lower than the level in 2014, which is extraordinary.Thursday&rsquo