The Latest Breaking News from Asos

Mike Ashley's Frasers Group has increased its maximum exposure to German fashion house Hugo Boss to 840 million pounds ($954 million) and has built a more than 5% stake in struggling British online fashion retailer ASOS. Frasers, formerly called Sports Direct, is on a drive to move upmarket and said…

Mike Ashley’s increased holding comes after online retailer reported slowing sales and full-year loss

Can the new CEO save the company that was once a stock market darling?

Online-only clothes retailer ASOS could open a pop-up store to sell out-of-season clothes at a steep discount, as the firm announced big losses due to the cost of living crisis

Trading has remained volatile since year end

British online fashion retailer ASOS said it needed to rebuild its once-successful business model after it reported an 89% drop in 2021-22 profit and forecast a loss in the first half, due to a rapidly deflating economy. The group, whose shares have fallen 80% this year, made adjusted profit before…

Online retailer reports disappointing sales growth and £32m pre-tax losses as it agrees £650m banking facility

Asos reckons its mostly young clientele – many of whom live with parents so don’t pay mortgages or fuel bills – should manage the cost-of-living crisis better than most.

Retailers selling non-essential items are suffering amid plummeting consumer confidence