Retailer Asos to overhaul business model after profit slump

  • 📰 IrishTimesBiz
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 77%

Business News News

Business Business Latest News,Business Business Headlines

Retailer Asos to overhaul business model after profit slump via IrishTimesBiz

“We want to be able to deliver more relevant stock and faster to consumers.”

Asos and rival Boohoo grew rapidly as young customers around the world snapped up their fast fashions, and demand surged again during the coronavirus pandemic when high street rivals were closed. Mr Ramos Calamonte said he was committed to free returns. Boohoo, which does charge for returns, warned on the outlook last month.

It forecast a first half loss as it cuts prices to clear old stock, requiring a non-cash write-off of up to £130 million. Some £40 million of other restructuring charges will also be booked.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines