Asos, Amazon, Boohoo: Everything that matters this morning
Asos caps ‘disappointing’ year with profit slump
Asos has capped what it calls a “disappointing” year with a 68% fall in pre-tax profit to £33m, as investments it made in its platform disrupted growth.
Revenue growth slowed to 13% year on year for the 12 months to 31 August, with UK retail sales up by just 15%, EU by 12%, US by 9% and the rest of the world by 12%. This is half the 26% growth seen in its 2018 financial year.
Asos CEO Nick Beighton describes the year
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