Fast fashion retailer Asos has plunged to another huge loss but insisted it can see the “green roots” of recovery after a painful two year turnaround.
The company, which has a joint venture with former Philip Green brands Topshop and Topman, revealed a pre-tax loss of £379.3 million for the year to end September compared with £296.7 for the same period last year. Group revenues dropped 16% to £2.9 billion. But it said sales of new ranges were up 24% while sales of its mountain of old stock fell 30%.
