Clothing & Shoes
Asos H1 losses narrow amid turnaround despite sales dip
The group said that over the last two years it has had a ‘clear focus on the groundwork required to deliver this’
Asos losses narrowed to £69.5m in the first half of the year, down from a loss of £120m the prior year, the “strongest sign” its new commercial model is working, according to the group. Despite the narrowed losses, sales were down by 13%, driven by continued annualising declines in old inventory, which fell by around 30% year-on-year, as well as optimised performance marketing.
You'll need to
subscribe to unlock this content. Already subscribed? Login?
