Plus   Neg

ASOS Lifts FY20 View; Now Sees Profit, Sales Significantly Ahead Of Market

ASOS Plc (ASOMY.PK,ASOMF.PK,ASC.L), an online retailer, Monday said it has continued to deliver a strong operational performance and year-on-year improvements in profitability in fiscal 2020. Sales and profit for the full year are now expected to be significantly ahead of market expectations.

The company previously said its profit for the year would be towards the top end of market expectations.

In its trading update, the company said it expects annual profit before tax in the region of 130 million pounds to 150 million pounds. Revenue growth is now expected to be between 17 percent and 19 percent.

ASOS now said the improvement in expectations is supported by stronger than anticipated underlying demand and the continuation of the beneficial returns profile.

Looking forward, the company said the consumer and economic outlook remains uncertain and it is unclear how long the current favourable shopping behaviour will persist.

The extent of its current outperformance and any impact beyond this financial year will be driven by how customer shopping behaviour normalises.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hongkong Sun Rise Trading Ltd. has recalled about 151,400 units of Kobalt Cordless Electric chainsaws and about 106,520 units of Kobalt Cordless Electric pole saws for possible laceration hazard, according to two separate statements issued by the U.S. Consumer Product Safety Commission. These include 1,400 chainsaws and 120 pole saws sold in Canada. Branded food company Hormel Foods Corp. (HRL) announced Friday that its Hormel Black Label Breakfast Food Truck will hit the road with free sample event of the popular brand's new Hormel Black Label Oven-Baked Egg Bites. The samples come in three variants - with Bacon, with Chorizo and with Bacon and... United Airlines has rolled out an interactive online "Map Search" feature for its customers in collaboration with search giant Google. The new feature is powered by Google Flight Search Enterprise Technology. United is claimed to be the first airline in the U.S. to add this feature. The new feature, available on United.com, allows customers to easily search, compare and purchase flight tickets.
Follow RTT