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REFILE-Online retailer ASOS's sales hit by coronavirus, raises funds to weather storm

·1-min read

(Repeats to additional subscribers)

LONDON, April 7 (Reuters) - Online fashion retailer ASOS said demand had been hit by lockdown measures introduced to combat the spread of the coronavirus, with sales falling 20-25% in the last three weeks.

The British company said it would strengthen its finances to help weather the disruption, including a placing of new shares representing up to 18.8% of its existing equity, and extending its revolving credit facility by 60-80 million pounds ($74-$99 million).

It announced the measures alongside results for the six months to Feb. 29, which saw revenue rise 21% to 1.597 billion pounds and pretax profit increase to 30.1 million pounds from 4.0 million pounds a year earlier. ($1 = 0.8118 pounds) (Reporting by Paul Sandle; editing by James Davey)