Asos Shares Plunge on Profit Warning

Fashion retailer's second profit warning in nine months reveals forecasts have been slashed amid delays to warehouse upgrades and increased costs

James Gard 18 July, 2019 | 10:34AM
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Asos website

Shares in fashion group Asos (ASC) plunged after a profit warning blamed on warehouse problems in the US and Europe.

The company brought forward next week’s trading update to tell investors that distribution changes have taken longer than expected and reduced the availability of stock for sale, impacting on sales.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
ASOS PLC3,188.00 GBP0.00Rating
Baillie Gifford Global Discovery B Acc2,711.39 GBP1.21Rating
Baillie Gifford UK Equity Alpha A Acc715.59 GBP2.05Rating

About Author

James Gard  is content editor for Morningstar.co.uk

 

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