|Bid||3,868.00 x 7100|
|Ask||3,869.00 x 4200|
|Day's range||3,804.00 - 3,886.00|
|52-week range||2,114.00 - 6,896.00|
|Beta (3Y monthly)||1.88|
|PE ratio (TTM)||53.34|
|Forward dividend & yield||N/A (N/A)|
|1y target est||4,263.19|
Online fashion retailer ASOS has seen pre-tax profits plunge by 87% after a "disappointing" first half. Sales growth in the UK was 16% and the EU 10%, which was not as good as hoped, due to weakness in German and French markets. Chief executive Nick Beighton said the company was "capable of a lot more".
ASOS, whose current offers feature one-shoulder mini dresses for 25 pounds ($33) and jumpsuits for 40.50 pounds, was one of the first purely online clothing retailers in the UK. Changing consumer habits have led to heavy discounting in the fashion sector as shoppers use the Internet to compare prices. Meanwhile, uncertainty over Britain's exit from the European Union has dampened consumer demand in ASOS's domestic market, which accounts for around one third of sales.
ASOS warned in December that its profits were likely to fall, saying slashing prices had not been successful in significantly increasing sales.
The stock was still well below its 41.86 pounds level before a shock profit warning in mid December. The company, which sells brands ranging from Abercromie and Fitch to Superdry as well as its own collections like its ASOS Design label, is investing heavily in its technology platforms and infrastructure such as warehouses and distribution centres. "ASOS is capable of a lot more," said Chief Executive Officer Nick Beighton in a statement.
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Shares in ASOS have fallen sharply after it reported "challenging" conditions in France and Germany and said sales in the US had been hit by teething problems at a new warehouse. The online fashion retailer said overall revenues in the three months to 28 February - stripping out currency movements - were up by 11% to £658.5m compared to last year, with the UK up 14%. Chief executive Nick Beighton said France and Germany, the retailer's two largest markets "continue to be challenging" while the US performance fell short of plans.
ASOS's new U.S warehouse struggled to cope with demand in its latest quarter, hitting sales there and adding to challenges in France and Germany, the British online fashion retailer said on Tuesday. The news was the latest setback for the one-time market darling following a shock profit warning in December, and sent its shares down as much as 13 percent. Chief Executive Nick Beighton said the company's U.S performance was behind plan because higher-than-expected demand at its new facility in Atlanta caused a significant despatch backlog, which had now been cleared.
Asos on Tuesday admitted it had got off to a faltering start in its efforts to crack America, as it struggled to meet demand across the pond. AIM-listed Asos, which sells its own clothing brand as well as labels such as Barbour and Fred Perry, opened its first US warehouse in Atlanta last month to give customers more choice. Asos chief executive Nick Beighton said demand from shoppers after the opening was at levels he had not seen for nine years and far exceeded expectations.
Rupert Hargreaves has run out of patience with former FTSE 100 (INDEXFTSE: UKX) dividend champion Marks and Spencer Group plc (LON: MKS).
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* European shares set for fourth day of gains * German economy stalled in Q4 * Earnings in focus: Nestle, Airbus, AstraZeneca * Banks lead sectoral fallers Feb 14 - Welcome to the home for real-time coverage ...
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Translating its modern aesthetic from fashion to homeware, ASOS have launched their first homeware and living range with around 50 pieces on offer from the first drop, aptly named SUPPLY. See the full ASOS SUPPLY collection here or read on to see our favourite pieces. Finding the perfect mirror for your space is not an easy task but the new homeware collection from ASOS has made it one step easier thanks to this stunning scroll design.
Britain's fashion industry is exploitative and unsustainable and leading brands must up their game to protect workers and cut waste, a group of parliamentarians said on Thursday. "The current exploitative and environmentally damaging model for fashion must change," they said in a report. Britain, which buys more clothes per person than any other country in Europe, has seen a boom in "fast fashion" - cheap clothing produced rapidly in response to the latest trends.
One of Britain's biggest online furniture retailers has kicked off an urgent search for a buyer, underlining the challenges facing internet-based shops even as their high street rivals battle the worst trading environment for decades. Sky News has learnt that the owners of Sofa.com have hired KPMG to identify a buyer. LGT European Capital, which took control of Sofa.com last year after having been a lender to the business, is understood to be seeking to secure a change of control within weeks.
Online fashion retailer Boohoo raised its revenue guidance after successfully navigating a tough Christmas for the high street. The owner of Nasty Gal and Pretty Little Thing said revenue rose 44% to £328.2m in the four months to 31 December, up from £228.2m a year earlier. Boohoo now expects revenues for the year to 28 February to rise by between 43% to 45%, ahead of its previous guidance of 38% to 43%.