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ASOS reports weaker sales in August

ASOS has said it expects its full year sales and adjusted pre-tax profit to be within the range of market forecasts. It anticipates that profit for… View Article

FASHION

ASOS reports weaker sales in August

ASOS has said it expects its full year sales and adjusted pre-tax profit to be within the range of market forecasts.

It anticipates that profit for the year to 31 August will come in at around the bottom end of company guidance while constant currency sales growth is expected to be around 2%.

However, the online fashion retailer said sales were weaker than anticipated in August following good growth in June and July due to the impact of inflation on consumers and a slow start to autumn/winter seasonal shopping.

Looking ahead, ASOS said: “While ASOS remains cautious about the outlook for consumer spending, it continues to make strategic progress and manage the business for the current environment.”

 The company will report its annual results on 12 October.

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