“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.
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