ASOS says warehouse problems behind it after profit slump

LONDON (Reuters) - British online fashion retailer ASOS said problems with warehouses in the United States and Germany, which were behind a 68% slump in annual profit, were largely behind it, sending its shares sharply higher on Wednesday.

Shares in the firm, which sells fashion aimed at twentysomethings, were up 16% at 0744 GMT, paring year-on-year losses to 41%, after it reported “substantial progress” in resolving its operational problems.

ASOS is working through...
source: Reuters

2019-10-16 11:38
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