Despite an increase in pre-tax profits of 25% over the past year, a combination of senior departures, profit warnings and supply chain issues saw the ASOS share price tumble last week, although investors remain positive on the global online fashion retailer’s outlook.
From market open on Monday 11 October to its close on Wednesday 13 October, ASOS shed 17.3% of its share price, falling from £27.81 to £23. This continued the downward trajectory the firm has been on since its March 2021 peak, after which it has fallen more than 60%, according to data from FE fundinfo. Last week's decline was tied to the firm's full year results to 31 August 2021, which, despite bumper profits, warned that 2022 could see this number fall as much as 38%, citing Brexit and supply chain problems as key concerns. Fast fashion brands need to focus on ESG solutions Suppl...
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