Love Island star Ovie Soko launched a menswear line and edit with Asos earlier this year“Digital is highly complex. Few have cracked it.
Fewer have even made a profit,” were the words of Asos founder Nick Robertson in. Six years later, Asos latest earnings show the online retailer is still trying to crack the code. The firm, once a market leader among digital-first fashion companies, has seen its profits tumble and revenue growth slow down as it emerges from a “difficult year” of operational challenges and attempts to expand in the U.S. and EU, simultaneously.
Asos shares rose 28% off the back of the results with investors cheering a 13% rise in revenue and the promise that warehouse and IT issues that dogged the business earlier this year have been resolved. Shares of the London-based retailer closed at $32 per share after Wednesday’s rally but are a long way off from the peak of $98 in March 2018.
, as the company admitted that it had underestimated the impact of trying to scale the business on two continents. That left Asos slipping on several of its key offerings, including product, presentation and customer engagement, the firm said.limited stock and delayed orders when brands could not get their stock to the new Asos warehouse in Atlanta fast enough, while its warehouse in Berlin struggled when systems were upgraded from manual to automated.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Prescription drugs boost drives J&J forecasts higher, shares riseJohnson & Johnson boosted its profit forecast for the year on Tuesday after post...
Weiterlesen »
Goldman Profit Drops 26% as Market WobblesGoldman Sachs Group’s third-quarter profit fell 26% from a year ago, hit by a slowdown in deal-making and losses on the bank’s stakes in companies.
Weiterlesen »
UnitedHealth Raises Profit Targets on Higher SalesUnitedHealth boosted its profit guidance for the year as revenue growth from its network of health services, premiums and health-care plan membership fueled the company’s third-quarter performance.
Weiterlesen »
JPMorgan Third-Quarter Profit Rises 8%JPMorgan Chase, the nation’s largest bank by assets, reported higher revenue and profit in the third quarter, sending its shares higher in premarket trading.
Weiterlesen »
DUP leader says 'no' to mooted Brexit compromise on tariffsThe small Northern Irish party supporting Britain's minority government ins...
Weiterlesen »