Asos

Ticker ASC

Today's data summary

Market closed
% change
-4.97%
Price Pence
5164.00
Change
-270.00
As of 07:51 07 Mar 2021
Market cap. Pound sterling
5,155.59 million
As of 07:51 07 Mar 2021

Latest updates

  1. Some interesting Asos facts

    A person looking at a dress to buy on the Asos app

    A few more facts have come out about the products people were buying on Asos that boosted its most recent quarterly financial performance.

    In 2019, Asos sold one black dress every second and one wedding dress every minute during record trade on Black Friday.

    The retailer said it had 27.7 million orders in the final four months of 2019, up 20% from a year earlier, while the number of visitors to its website rose 23%.

    Best sellers such as branded sneakers, overcoats and puffer jackets, as well as staples such as denim, jumpers and organic cotton T-shirts, helped to drive sales over the period.

  2. 'The hard work isn't over' for Asos

    Asos models

    Sophie Lund-Yates, equity analyst at Hargreaves Lansdown said: "Asos made it through the festive season without signalling a distress call. Not only that but sales were better than expected, which will come as a pleasant surprise.

    "This time around a record Black Friday provided a serious shot in the arm to sales, which is in stark contrast to 2018 when the occasion was far from a happy time for the group.

    "Asos's own operational foul-ups cost the group dearly last year but these issues have been largely put to bed, with stock, product choice and capacity all looking healthier, which is supporting sales.

    "It’s hard to view these numbers as anything other than a step in the right direction. But the hard work isn’t over, with competitive pressures still lingering. We think Asos is focusing on the right things, but many investors will just be relieved the group’s been able to deliver a strong quarter."

  3. Asos 'back on track'

    Woman surfs Asos on a laptop

    Following Asos's latest update on sales, Richard Lim, chief executive of Retail Economics, said: "These figures show that the retailer is back on track.

    "They effectively leveraged their vast reach on social media to gain strong traction heading into Black Friday and the Christmas period. Past investments in digital and logistics infrastructure improved their range and availability, showing early signs that it's beginning to pay off.

    "It is abundantly clear that Black Friday has become critical in retailers' success over the festive period.

    "Savvy shoppers are bringing forward their purchases to take advantage of discounts for their Christmas shopping. This favours retailers with sophisticated online propositions and the operational capacity to cope with these peaks in demand."

  4. Asos shares jump

    model

    Shares in Asos have jumped after its results, even though the online retailer reported a sharp drop in profits.

    Tom Stevenson, investment director at Fidelity Personal Investing’s share dealing service, said: “Asos managed expectations well so that what investors saw on their screens this morning was bang in line with sharply reduced forecasts.

    "The online fashion retailer has been caught in the vice of competitive price cuts and rising costs. Add in the traditional challenges of a small company trying to make it on the global stage and this year’s profits air-pocket was inevitable.

    “For investors it has been a roller-coaster ride. The shares have twice soared to £70 and returned to £20 or so. Bulls of the stock will hope it’s third time lucky but they have learned that this most volatile of AIM stocks has the potential to make and lose serious money for investors who time it wrong.

    "With no dividend to smooth the ride and a punchy multiple of even the current year’s expected earnings recovery, Asos remains an act of faith.”

    The shares are up 13% at £28.93.

  5. Lots of Cs at Asos

    animal print desk

    Asos says it will "strengthening the depth and breadth of our senior management team" as it sets its sights on growth.

    "We have restructured our executive team and over the course of full year 2020 we will be adding new roles including a Chief Growth Officer, Chief Commercial Officer, Chief People Officer and a Chief Strategy Officer to sit alongside our CEO, CFO, CIO and COO."

    However, the online retailer also says it is cutting costs.

    It said customers bought animal print, broderie and satin styles.

    And, it says: "Amplifying our focus and presentation particularly for the 'glam' customer has been a priority".

  6. Asos profits slump

    little mix

    Online retailer Asos has reported a 68% fall in profits to £33m

    Nick Beighton, chief executive of ASOS, said: "This financial year was a pivotal period for Asos, where we have invested significantly and enhanced our global platform capability to drive our future growth. Regrettably this was more disruptive than we originally anticipated.

    "However, having identified the root causes of our operational issues, we have made substantial progress over the last few months in resolving them. Whilst there remains lots of work to be done to get the business back on track, we are now in a more positive position to start the new financial year.

    "Our focus now shifts to ensuring that we enhance our capability to drive an improved customer experience and leverage the benefits from the investments we have made. With over 60% of our revenue coming from international customers and a strong global logistics platform with capacity to grow, we are well positioned to take advantage of the global growth opportunity ahead of us."