Asos ended its financial year (3 September 2023) with a lower-than-expected operating loss. The group expects sales in FY24 to continue to fall by 5%-15%. The new leadership will continue to focus on a recovery in profitability while sacrificing top-line growth. The group expects to return to positive growth by FY25. The updated outlook for FY24 onwards and the lack of meaningful progress on profitability to date remain a concern going forward.