ASOS – Bad Weather And Covid Confusion Cuts Sales
Underlying retail sales rose 20%, to £1.2bn in the third quarter, ignoring the effect of exchange rates. That includes growth in all regions except Rest of World. Q2 2021 hedge fund letters, conferences and more ASOS plc (LON:ASC) said COVID uncertainty and bad weather meant trading weakened in the last three weeks of the quarter. The group also warned that global supply chain issues, including freight capacity shortages and delivery delays, are set to continue. However, underlying pre-tax profit expectations for the full year are unchanged. The shares fell 8.2% following the announcement. ASO...