May 11 (Reuters) - ASOS said on Monday it will sell its Lichfield fulfilment centre to rival Marks & Spencer for 66 million pounds ($89.7 million), as the British retailer looks to simplify operations and dispose of non-core assets.
Here are some details:
o ASOS expects the sale of the facility, which is used by retailers to store products and process orders, to generate a one-off pre-tax profit of 85 million pounds and annual cash cost savings of 6 million pounds.
o ASOS has been focused on reducing costs and trimming operations as it grapples with weaker consumer spending and inflationary pressures.
o The disposal is aimed to address the company's excess capacity, the retailer said, adding that its fulfilment centres in Barnsley and Berlin give it enough capacity for future growth.
o ASOS expects the disposal to be completed during the second half of fiscal year 2026.
o The company said its Atlanta fulfilment centre will be its only non-core asset.
($1 = 0.7358 pounds)
(Reporting by Simone Lobo in Bengaluru; Editing by Sherry Jacob-Phillips)
