Asos news and archive

Asos: annual sales miss expectations

British clothing retailer Asos Plc did not quite meet sales expectations for the 2024/25 financial year. This was announced in a trading update published by the company on Tuesday. In the past financial year, revenue was “slightly below market expectations”, the retailer admitted, without providing specific figures. The gross merchandise value...

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Asos assigns new position of senior customer director to Dan Elton

Dan Elton, former chief customer officer at made.com, has been appointed by online retailer Asos to fill the post of senior customer director, a newly introduced role. Elton took over the initial spot of chief customer officer and reports directly to José Antonio Ramos Calamonte, the company's CEO. He departed the bankrupt furniture company...

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Business

Asos swings to loss as inflation dents consumer spending

Asos delivered total sales growth of 4 percent or 1 percent on a reported revenue basis to 3,936.5 million pounds and a pre-tax loss of 31.9 million pounds, down from a profit of 177.1 million pounds a year ago. The company expects to report loss driven by the usual profit phasing and exacerbated by elevated markdown to clear stock in the first...

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Business

2021 Round up: The most notable acquisitions this year

Anyone who takes a quick look at the news over the past year will have noticed one business trend: takeovers, takeovers and takeovers. Various fashion groups seem to be actively in the acquisition game, while other companies were presented with an opportunity that they could not turn down. To sum it all up: these were the most notable...

Video

Video: Adidas x Ivy Park collection

In this video, Asos has presented the Adidas and Ivy Park collaboration. Watch the video below. Click here to read more about the collection. Video: Asos via YouTube Photo credit: Image: Adidas

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Fashion

UK fast fashion: Half of top brands’ clothes made entirely from virgin plastic

A study looking into the use of plastics in the UK’s fast fashion industry has found that 49 percent of the clothing from four top brands is made entirely using virgin plastics. Boohoo was the biggest culprit with 67 percent of its fashion made entirely from fabrics derived from petrochemicals such as polyester, acrylic, nylon and polyamide....

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Business

Asos reportedly interested in Cult Beauty and Feelunique takeover

Asos is reportedly one of the potential suitors for London-based online retailers Cult Beauty and Feelunique. Beauty has become an important focus for Asos and is an area the company has previously indicated its interest in expanding, Sky News reports. City sources have told Sky that Asos is yet to make a formal bid on either of the businesses...

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Business

Asos calls for the 2015 Modern Slavery Act to be strengthened

Asos has called for the implementation of mandatory human rights due diligence legislation in the UK to strengthen the 2015 Modern Slavery Act. Such legislation, currently being developed by the European Commission for the EU, would if, introduced in the UK ensure that companies take steps to prevent and mitigate risks and protect vulnerable...

Fashion

DPD teams up with Asos to collect pre-loved clothing for free

Asos is partnering with DPD on an initiative to allow customers to arrange charity donations to be collected from the doorstep with their Asos order. The circular economy initiative, DPD’s ReLove service will see the delivery company collecting pre-loved clothing and delivering to one of five leading UK charities, free of charge. The service is...

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Business

Asos looks to raise 500 million pounds for global expansion

Asos has announced plans to raise 500 million pounds to drive its global expansion a day after the British fashion giant reported surging profits for the first half of the year. The company said it is offering 500 million pounds of senior unsecured guaranteed convertible bonds due 2026 through its subsidiary Cornwall (Jersey) Limited. Asos said...

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Fashion

Shopping online? Beware of the digital carbon footprint

Fashion’s shift to digital is not as sustainable as we may have been led to believe. The more time we spend online, the greater the need for electricity, which has seen internet usage increase 40 percent worldwide in 2020. A study by Yale university shows a surge in digital activity – from online shopping to following a fitness class to meeting...

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Retail

Asos, Boohoo, THG and more launch trade body to support e-commerce sector

British retailers Asos, Boohoo, Gymshark, The Hut Group (THG), Ocado Group and AO World have launched a new trade body to support and promote the country’s fast-growing digital-commerce sector. The newly-founded UK Digital Business Association (UKDBA) said it “will champion the sector” as it adapts to “ever-changing consumer needs”, while...