Asos has missed its estimates but maintained its guidance unchanged. PBT was down 87% to £4m. A long list of mistakes has torn down sales, including the under-estimate of the staffing required in the Atlanta warehouse, the cut in marketing investments in Europe and an inappropriate assortment of Asos designs. However, management was confident about restoring growth and margins in the mid-term. Also, it confirmed it should be able to generate positive cash flow in FY20.
10 Apr 2019
Profits below estimates in H1 19 while guidance maintained
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Profits below estimates in H1 19 while guidance maintained
ASOS plc (ASC:LON) | 364 58.3 4.6% | Mkt Cap: 435.0m
- Published:
10 Apr 2019 -
Author:
Rim BEN SALAH -
Pages:
3
Asos has missed its estimates but maintained its guidance unchanged. PBT was down 87% to £4m. A long list of mistakes has torn down sales, including the under-estimate of the staffing required in the Atlanta warehouse, the cut in marketing investments in Europe and an inappropriate assortment of Asos designs. However, management was confident about restoring growth and margins in the mid-term. Also, it confirmed it should be able to generate positive cash flow in FY20.