''ASOS has strutted ahead in terms of sales in the
But it's not helped boost its profit guidance as elsewhere the group facing ongoing headwinds, constraining growth. Supply chain challenges continue to be an ongoing headache for the group and overall demand has still stayed extremely volatile due to fresh waves of Covid crashing on key markets. Margin declines due to discounting were expected and that is likely to continue to be a niggling cause of concern as too many red ticket reductions have been turned into a big headache in the past.
Investors appear confident that ASOS is taking the right strategy to ride out the storm with the growth trajectory of 10-15% unchanged for the year and pre-tax profits remaining on track. They have been buoyed by the news that ASOS is styling itself for a premium listing and plans to apply for entry to the main market of the
The last year has been a rollercoaster ride for ASOS, originally shorthand for As Seen On Screen, and it's hoped an admission will help erase some of the volatility of the stock and push it further into the limelight in terms of profile among investors."
Shares were up 11% in early trading.
NOTES FOR EDITORS
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