ASC.L - ASOS Plc

LSE - LSE Delayed price. Currency in GBp
3,308.00
-69.00 (-2.04%)
At close: 5:05PM BST
Stock chart is not supported by your current browser
Previous close3,377.00
Open3,391.00
Bid3,323.00 x 0
Ask3,326.00 x 0
Day's range3,297.00 - 3,498.63
52-week range975.20 - 3,773.00
Volume376,719
Avg. volume936,801
Market cap3.3B
Beta (5Y monthly)2.19
PE ratio (TTM)112.52
EPS (TTM)29.40
Earnings date07 Apr 2020
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est4,263.19
  • Long Lines at Ikea Don’t Spell Retail Boom
    Bloomberg

    Long Lines at Ikea Don’t Spell Retail Boom

    (Bloomberg Opinion) -- Anyone who has ever waited at Primark to pay for cheap workout attire or a bargain dress knows just what a challenge it is to keep the snaking line in the right place. With precautions to control the novel coronavirus’s spread, that logistical nightmare will get even worse. Every second cash register will be shut and there’ll be an employee in charge of enforcing the regimented flow of customers — in one way and out another.Social-distancing rules governing shops are just one of the reasons why any honeymoon for retailers in the first days of reopening may be short lived. Many will soon have to confront hard decisions about whether to shut some stores definitively and how to fend off online competition in a world where people may still be hesitant to go out to shop. Recovery will be a long slog, with more pressure on profits than before the Covid-19 outbreak.Non-essential stores in England, which were forced to close in March, will be permitted to open from June 15. Early indications are good. Ikea stores on the outskirts of London and in the West Midlands drew huge queues when the purveyor of flat-packed furniture (classified as essential) reopened earlier this week. In the U.S., where some states have moved quickly to reopen for business, signs have been encouraging — at least until the civil unrest that forced some store closures again.Take TJX Cos., owner of T.J. Maxx, one of the most touchy-feely retail experiences. It might seem that treasure hunting for a designer gem would be less appealing during a pandemic. But in late May the company said that overall, sales were above the year-earlier period in the 1,100 stores that had been open for at least a week. Even Macy’s Inc., which got caught in the department-store maelstrom, said sales were moderately higher than anticipated.It’s a similar picture in Europe. Earlier this week, Primark, owned by Associated British Foods Plc, said that suburban outlets, such as the one in Hilversum in the Netherlands, were comfortably ahead, even though sales in city-center stores in Berlin and Amsterdam were at less than half of what they were a year ago.There will be pent-up demand when stores open in England, too. During lockdown, online shopping has flourished. Initially, demand was for home furnishings and clothing basics, such as underwear and workout gear. But warm weather, along with a slew of special offers, has encouraged more fashion purchases, such as day dresses, over recent weeks. More markdowns, needed to clear out unsold spring and summer stock, could prompt people to splurge when they can get back out to shop again.But a surge at the reopening doesn’t necessarily mean an enduring rebound. The pandemic has had great human and economic costs, with U.K. unemployment expected to spike in the second quarter. Even if their finances have held up, furloughed workers may be reluctant to spend. People make the most drastic changes to their spending when they lose their job or see their friends and family being laid off. Meanwhile, even though economies are gradually reopening, cancelled weddings, parties and overseas holidays will likely mean a lower level of clothing demand for the remainder of this year.Those who do feel brave enough to splash out may get frustrated with long waits to get into stores or check out. That could be bad news for discount retailers that rely on a high number of relatively low-value transactions. Primark could be hardest hit by social-distancing measures at its busiest stores, which accounted for 10-20% of its total sales before the pandemic, parent Associated British Foods said.Store closures during lockdown pushed even more people to shop online, a trend that’s likely to continue. The digital share of non-food sales in the U.K. could increase to 41% over the next 18 months or so, from about 30% at the end of 2019, according to Richard Hyman, the independent retail analyst. Shifting business online comes with additional costs too.All of these forces will make chains think hard about which stores are worth keeping in their networks. In the U.S., Nordstrom Inc. said it would close 16 of its 116 department stores. Expect similar decisions in Europe, especially if the additional costs associated with equipping stores for social distancing can’t be shared with landlords in the form of lower rents.But some companies are poised to make the most of the turmoil. While Primark may have to deal with some tricky in-store logistics, it should still emerge a winner, given its focus on value, along with cheap-chic rivals Hennes & Mauritz AB and Inditex SA’s Zara. Perhaps that’s why Primark, which has shunned online commerce, is actually opening new stores — such as in Manchester’s Trafford Centre — rather than closing any. Online retailers such as Germany’s Zalando SE and Britain’s Asos Plc, as well as companies with big digital businesses, such as Next Plc, should also be well placed.But even for the winners, the next year or so will be testing. The changes roiling the industry in the space of these five months would have taken five years in normal times. That’s a lot for even the most nimble retailers to deal with.  This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Will the Asos (LON:ASC) share price keep rising?
    Stockopedia

    Will the Asos (LON:ASC) share price keep rising?

    Despite the market volatility, shares in Asos (LON:ASC) have been in an uptrend in recent months. The question now for investors is whether that price strength...

  • Boohoo buys PrettyLittleThing stake for £270m amid short-seller pressure
    Yahoo Finance UK

    Boohoo buys PrettyLittleThing stake for £270m amid short-seller pressure

    Boohoo already owns 66% of PrettyLittleThing but will pay £269.8m to buy the remaining 34% of the business.

  • ASOS Plc's (LON:ASC) Stock Is Going Strong: Have Financials A Role To Play?
    Simply Wall St.

    ASOS Plc's (LON:ASC) Stock Is Going Strong: Have Financials A Role To Play?

    ASOS (LON:ASC) has had a great run on the share market with its stock up by a significant 28% over the last month. As...

  • Upbeat broker recommendations for Asos
    Stockopedia

    Upbeat broker recommendations for Asos

    The Asos (LON:ASC) share price has risen by 16.2% over the past month and it’s currently trading at 2613. For investors considering whether to buy, hold or sel...

  • J. Crew Is the First of Many Retail Casualties
    Bloomberg

    J. Crew Is the First of Many Retail Casualties

    (Bloomberg Opinion) -- Even as some retailers begin to open stores again, the pain across malls and main streets continues to take its toll.J. Crew Group Inc. on Monday said it would begin pre-arranged Chapter 11 bankruptcy proceedings and enter into a $1.65 billion debt-for-equity swap with its lenders, becoming the first major U.S. retailer to succumb to the economic convulsions caused by the coronavirus pandemic. It won’t be the only casualty. Other chains are grappling with the same issues: heavy debt loads, compounded by the damage done from locations closed for weeks. Neiman Marcus Group Inc. is closing in on a bankruptcy deal with a group of lenders, Bloomberg News reported on Monday, citing people with knowledge of the matter, and J.C. Penney Co. is reportedly in talks on a loan that would fund it through a restructuring. Meanwhile, Victoria’s Secret-owner L Brands Inc. said late Monday that it agreed to terminate plans to sell a majority stake in the lingerie chain to private equity firm Sycamore Partners. Jefferies analyst Randal Konik had warned last month of potential medium-term solvency issues at L Brands after Sycamore sued to get out of the transaction, citing a collapse in sales and looming debt maturities.Every brand has its own story. In the case of J. Crew, it was one of the first mainstream U.S. retailers to gain real traction with the fashion crowd, and in its heyday was also ahead of its time in areas such as store design. The leadership of former chief executive Mickey Drexler and creative director Jenna Lyons took its preppy styles from classic to cutting edge, all helped by the brand being a favorite of Michelle Obama. But its trendy designs eventually alienated some customers, and when the power partnership came to an end in 2017, it never regained its stride. With cheaper competitors such as Inditex’s Zara and a resurgent Ralph Lauren Corp at the top end, J. Crew had to rely on incessant discounting.J. Crew had hoped in recent months to spin off its faster-growing, denim-focused  Madewell arm as it sought to cut borrowings of almost $1.7 billion as of February. But plans for the initial public offering were scuppered by the pandemic, and it was left struggling to deal with its debt, a legacy from its 2011 leveraged buyout by TPG Capital LP and Leonard Green & Partners LP.Neiman Marcus, meanwhile, was acquired in a $6 billion leveraged buyout by Ares Management LLC and the Canada Pension Plan Investment Board almost six years ago. The chain has been in a race with its luxury rivals, such as Nordstrom Inc. to turn stores into temples of indulgence. That all takes investment, made harder with a debt load of $4.3 billion, according to Bloomberg News. J.C. Penney is at the other extreme. It must deal with shabby stores as it struggles to stay relevant while managing total borrowings of $3.6 billion excluding store leases as of Feb. 1.All three chains are facing pressure from online rivals. For J.C. Penney, that’s Amazon. For J. Crew and Neiman, it’s the likes of Richemont’s Net-a-Porter. The latter two are no laggards to online themselves, so this challenge should be  manageable. Their capital structures, however, are proving more of a hurdle.Some stronger groups, including Gap Inc., have tapped the credit markets. In the U.K., a number of retailers such as Asos Plc, have turned to shareholders. American chains may follow suit. But the steep falls in many retailers’ share prices may make that difficult. A buyer also can’t be ruled out for Neiman or J. Crew, which will continue to trade after also reaching agreement on $400 million of financing. After all, both have recognizable brands. But with valuations uncertain, a rescuer can’t be counted on either.While the lockdown, and likely tepid recovery is most worrying for those companies with fragile finances, stronger chains will also emerge weaker. Gap, for instance, revealed that with physical stores shuttered, it would burn through half of its cash pile in less than two months, eroding its financial position at a time when it was seeking to revive its core Gap brand.Gap had $1.25 billion of long-term debt as of Feb. 1, less than one times its Ebitda of $1.6 billion and seemingly manageable. But with the pandemic, cash reserves —  which stood at $1.7 billion on Feb. 1 — have dwindled to an estimated $750 million to $850 million as of May 2.After the struggle to survive, there will be little left over to invest, a problem when consumers are likely to be even more discerning and addicted to online shopping. So for those retailers that do make it through the crisis, prospering afterwards will be another thing entirely.(Updates third paragraph to show Neiman Marcus is close to a bankruptcy deal, and L Brands terminated a sale of Victoria’s Secret.)This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Can the ASOS share price hold on to recent gains?
    Fool.co.uk

    Can the ASOS share price hold on to recent gains?

    After the fashion retailer raises £240m from shareholders, can the ASOS share price hold on to gains until lockdown ends?The post Can the ASOS share price hold on to recent gains? appeared first on The Motley Fool UK.

  • Will the Asos share price run continue?
    Stockopedia

    Will the Asos share price run continue?

    In this article we will quickly re-cap the broker forecasts for Asos (LON:ASC). The Asos (LON:ASC) share price has risen by 73.9% over the past month and it’s8230;

  • Reuters - UK Focus

    LIVE MARKETS-Ten European best in class stocks in coronavirus times

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. What do the hottest European stocks have in common?

  • Reuters - UK Focus

    LIVE MARKETS-"I’m from the government, and I’m here to help"

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. There was a time Ronald Reagan was cheered when he said the most terrifying words in the English language are "I’m from the government, and I’m here to help".

  • Reuters - UK Focus

    LIVE MARKETS-Loads of e-meetings, no game-changing decisions

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. The internal EU divisions over Italy is feeding euro scepticism: Nomura says that the Eurozone membership prevents Italy from saving its own people.

  • A Rising Share Price Has Us Looking Closely At ASOS Plc's (LON:ASC) P/E Ratio
    Simply Wall St.

    A Rising Share Price Has Us Looking Closely At ASOS Plc's (LON:ASC) P/E Ratio

    ASOS (LON:ASC) shareholders are no doubt pleased to see that the share price has bounced 119% in the last month alone...

  • Reuters - UK Focus

    LIVE MARKETS-Looking for a job. Cerco lavoro. Busco trabajo

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London. As the European economy is set to contract sharply in H1, unemployment rate is expected to soar especially in the UK, Italy and Spain. Nomura expects around 5% rises in the unemployment rate in the UK to 8.5% in Q3.

  • Reuters - UK Focus

    LIVE MARKETS-The pyjama effect

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London. As a big chunk of the world is under a lockdown and with most shops closed you would expect online retailers to be enjoying an incredible boost in sales. "We expect online retail to face a challenging period as containment measures curtail social outings; the primary occasion consumers tend to use online retailers for," writes BofA analysts.

  • Asos surges as it raises £247m to weather COVID-19 storm
    Yahoo Finance UK

    Asos surges as it raises £247m to weather COVID-19 storm

    The stock jumped 32% after Asos successfully raised new money from investors to help it survive the COVID-19 slump.

  • UK fashion retailer ASOS raises 247 million pounds in placing
    Reuters

    UK fashion retailer ASOS raises 247 million pounds in placing

    British online fashion retailer ASOS Plc <ASOS.L> said it had raised 247 million pounds ($304 million) via a placing, to help it shore up its finances in case of a prolonged business downturn from the coronavirus pandemic. ASOS, which said on Tuesday it was planning the equity raising, said on Wednesday it had placed 15.8 million new shares at a price of 15.60 pounds per share, equivalent to 18.8% of its ordinary share capital prior to the placing.

  • UK fashion retailer ASOS raises 247 million sterling in placing
    Reuters

    UK fashion retailer ASOS raises 247 million sterling in placing

    British online fashion retailer ASOS Plc said it had raised 247 million pounds via a placing, to help it shore up its finances in case of a prolonged business downturn from the coronavirus pandemic. ASOS, which said on Tuesday it was planning the equity raising, said on Wednesday it had placed 15.8 million new shares at a price of 15.60 pounds per share, equivalent to 18.8% of its ordinary share capital prior to the placing.

  • Reuters - UK Focus

    UK fashion retailer ASOS raises 247 mln stg in placing

    British online fashion retailer ASOS Plc said it had raised 247 million pounds ($304 million) via a placing, to help it shore up its finances in case of a prolonged business downturn from the coronavirus pandemic. ASOS, which said on Tuesday it was planning the equity raising, said on Wednesday it had placed 15.8 million new shares at a price of 15.60 pounds per share, equivalent to 18.8% of its ordinary share capital prior to the placing.

  • Reuters - UK Focus

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

    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).

  • Retailer ASOS shores up finances as coronavirus hits sales
    Reuters

    Retailer ASOS shores up finances as coronavirus hits sales

    British online fashion retailer ASOS Plc said on Tuesday it was raising equity and extending debt facilities to shore up its finances in case of a prolonged business downturn from the coronavirus pandemic. The group, which sells fashion aimed at 20-somethings, has kept going during the national lockdown in line with UK government guidance for online retailers. To help weather the disruption it is placing 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).

  • Coronavirus: Asos’ logistics firm to deliver protective equipment for NHS
    Yahoo Finance UK

    Coronavirus: Asos’ logistics firm to deliver protective equipment for NHS

    Clipper Logistics said it had already begun delivering personal protective equipment to NHS hospitals across the UK.

  • Retailers Wish You'd Be Back Shopping By Easter
    Bloomberg

    Retailers Wish You'd Be Back Shopping By Easter

    (Bloomberg Opinion) -- Donald Trump wasn’t alone in hoping everyone’s lives could get back to normal by Easter weekend.Retailers’ decisions to furlough hundreds of thousands of U.S. retail workers this week underscore that store closures are set to go on for much longer than initially anticipated. Closings in many major markets around the world will remain in place through next weekend and beyond, wreaking havoc with the prime spring shopping season.Hennes & Mauritz AB said on Friday that net sales fell by 46% in March from the year earlier. It expects a loss in its second quarter. The extended closures will now affect crucial pre-Easter shopping period, worth about $25 billion to U.S. retailers, according to GlobalData. While people may still indulge in filling their children’s baskets with chocolate eggs to create some holiday cheer in this difficult time, crackdowns on even the smallest of gatherings mean they won’t be planning big fancy meals, nor refreshing their bunny-and-chick-themed decorations.  What’s more, consumers can’t take advantage of the long holiday weekend in much of Europe to start shopping for the latest trends for summer. That’s a blow because it typically kicks off the period when consumers refresh their wardrobes, home decorations and gardens for the warmer months. If temperatures soar, that can normally set non-food retailers fair for the coming quarter.  From there, people’s diaries would typically be chock full with weddings, graduations and parties, plenty of reasons to update one’s wardrobe. But the novel coronavirus has radically changed all of that, eliminating pretty much any reason to dress for success. It’s estimated that half of couples planning weddings in the U.S. this year are looking to postpone them, according to data from the Wedding Report. The graduation season has been thrown into question. More than 80 U.S. colleges and universities have either canceled, postponed or been turned their 2020 commencement ceremonies into virtual gatherings. View this post on Instagram A post shared by Nordstrom (@nordstrom) on Apr 2, 2020 at 5:40pm PDTThat means everything from floral dresses to pastel hued shoes may have to be offloaded. Discounting to clear unwanted stock means the crisis is likely to last well into the second quarter, and possibly beyond.There’s another reason why the impact on may be bigger than initially feared: Some online demand has evaporated. Retailers have to ensure workers processing internet orders observe strict social distancing rules. So far British online fashion group Asos Plc, which generated 13% of its sales from the U.S., has kept its warehouses in Atlanta, Berlin and the U.K. open, albeit with longer delivery times. But rival fashion chain Next Plc has stopped taking online orders while it reconfigures its distribution centers. This would be in line with its worst case scenario of the business being closed for four weeks, cutting full-year sales by 1 billion pounds ($1.2 billion).No wonder store chains have shifted to cash preservation mode. H&M said it was taking a number of initiatives, from cutting working hours to seeking rent reductions, to try to cope. In the U.S., hundreds of thousands of staff are being temporarily laid off, with chains such as Macy’s Inc., J.C. Penney Co., Kohl’s Corp. and Gap Inc. halting pay for much of their workforce while preserving some benefits. The longer the hiatus in consumer spending, the more likely that some retailers and restaurants just won’t open their doors again. Others may decide to radically cut down on their brick-and-mortar locations. U.S. department stores, already grappling with the shift to online and mostly lackluster product selections, look particularly challenged.But even companies that do emerge relatively unscathed could find recovery just as demanding. Consumers who have kept their jobs will likely be eager to splash out on holiday and work attire when they’re finally able to move about freely and go back to the office, purchases they can fund with money saved during lockdown on everything from gym memberships and dining out.The question is whether any pent up demand will be enough to alleviate lost sales from those who have been temporarily laid off, or worse, made redundant. Individuals in fear of losing their jobs, or being forced to take pay cuts, are likely to save more. So consumer-facing companies need to brace themselves for a long haul.  It’s going to be some time before stores reopen, and even longer before they get back to any semblance of normality.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-CLOSING SNAPSHOT: A BRUTAL MONTH IS OVER

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London. After the recovery in oil prices and the surprise expansion in Chinese factory activity revived confidence in equity markets, European bourses had a nice run this morning and even if later shares struggled to find a direction, they ended the day well on the black though. The pandemic has led Europe into a financial crisis which threatens to morph into a replay of the 2010 sovereign debt crisis which had the very existence of the euro zone at stake.

  • Reuters - UK Focus

    LIVE MARKETS-European retail: Empty cash drawers

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London. Morgan Stanley believes earnings numbers on European retailers are now irrelevant and cash is becoming king instead.

  • Asos accused of playing 'Russian Roulette with people's lives' during coronavirus pandemic
    Yahoo Finance UK

    Asos accused of playing 'Russian Roulette with people's lives' during coronavirus pandemic

    Union bosses warn online fashion retailer is encouraging dangerous work practices by not enforcing coronavirus social distancing rules. Asos denies the claim.

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