Asos: towards a ‘significant’ margin improvement

( – Asos, the British online fashion specialist, announced on Thursday that its turnover for the last four months of 2022 had fallen by 6% at constant exchange rates, a decline much more pronounced than expected since the consensus was for a drop in sales of 2%.

Regarding the first half of its 2022-2023 financial year, which will end at the end of February, Asos explains that it continues to anticipate a loss linked to an unfavorable post-Covid base effect, the rise in inflation and to high item return rates.

Its adjusted gross margin for the first half as a whole should be similar to that for the last four months of the year, ie 42.9%.

On the other hand, the clothing group promises a “significant” improvement in its adjusted gross margin over the second part of the 2022/2023 financial year, which supported its stock price on Thursday in London.

At the end of the morning, the title jumped by more than 15%, signing by far the largest increase in the FTSE 250 index of British mid-caps.

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