Analysis
Can Asos turn around its spiral into widening losses?
Asos is doing everything in its power to undo its widening losses that are nearing negative ยฃ300m, following the height of popularity during the Covid online shopping boom โ but have consumers simply moved on to other competitors?
If Asosโ estimations are correct, the online fashion retailer will be facing its second year of falling sales as big as 5% to 15% in FY24. Business has looked bleak for the retailer, and as of 3 September, its loss-before-tax widened to ยฃ296.7m, UP from a loss of ยฃ31.9m in 2022.
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