Latest news with #AsosDesign
Yahoo
24-04-2025
- Business
- Yahoo
Asos sales sink but shift to full-price items boosts baskets
Asos (ASC.L) has reported sinking sales as it continued to clear a build-up of stock and slash the number of discounted items, but revealed its turnaround efforts were starting to bear fruit. The online fashion retailer said the first half of its financial year was the 'strongest sign yet' that its overhaul of the business was working. It nonetheless reported revenues of £1.3 billion for the six months to March 2, declining 14% compared with the same period last year. It also warned that revenues were expected to come in at the 'bottom end' of its guidance range for the full year, which means revenues could drop by as much as 9%. Asos has been battling to clear a £1.1 billion stock mountain since 2022. It said stock levels were down about 60% since then, with about 80% of fashion items on the platform less than six months old. The group has been turning its attention to selling full-price products, rather than those on sale, which it said generates more profit. This has seen the average value of people's baskets rise by 4%, it revealed. Asos's own-brand products, sold at full-price, returned to growth during the period, while sales of its Asos Design range jumped by nearly a 10th in the UK. The group narrowed its pre-tax losses to £241.5 million for the half-year, from £246.8 million a year ago. On an adjusted basis, earnings before interest, taxes, depreciation and amortisation (EBITDA) swung to a £42.5 million profit, from a £16.3 million loss the prior year. Jose Antonio Ramos Calamonte, Asos's chief executive, said its customers were 'responding positively to our focus on full-price sales, speed to market, and quality' and that it had seen 'positive momentum with our partner brands'. 'Importantly, these successes have been achieved whilst maintaining strong cost control and improving our inventory health. 'We look forward to a fantastic pipeline of new products, brands and customer experiences, and remain confident in our ability to deliver sustainable, profitable growth.' Sign in to access your portfolio
The Independent
24-04-2025
- Business
- The Independent
Asos boss says retailer ‘resilient' as US tariffs loom
Asos has cheered early signs that its overhaul is paying off while US tariffs loom and the retailer braces for new charges on cheaper imports. The online fashion retailer said the first half of its financial year was the 'strongest sign yet' that its turnaround of the business was working. Its boss stressed that the firm was taking a 'flexible approach' to fast-evolving global trade policy. In particular, the company is set to be affected by US President Donald Trump's plans to scrap the 'de minimis' rule which means lower-cost goods shipped directly to US consumers are exempt from being charged customs duty. Plans to axe this rule, which is set to take effect from May, means orders below 800 dollars (£602) will face new charges. Asos's finance chief Dave Murray said it does not tend to have orders that are over that cap so 'it hasn't really come into effect yet', adding that the company's 'focus is making sure we have flexibility in our operations to continue providing our US consumers' with its products. Asos recently closed its US warehouse in Georgia, and instead handles orders from American consumers from its warehouse in Barnsley, South Yorkshire, as well as a smaller local site in the US. Jose Antonio Ramos Calamonte, Asos's chief executive, said that since this change, 'test and react' products had surged by 50% in the US, because they are available faster. The test and react model, which is prominent for fast-fashion retailers like Shein, sees small batches of new-trend products brought to market more quickly. Mr Ramos Calamonte said that regulation was changing 'daily' with many details still unclear, meaning that the business was focusing on being 'flexible and agile' as well as its approach. He also said the firm was 'not that deep into China' with about 5% of US sales of its own-brand products generated in China. The escalating trade war between China and the US has seen Mr Trump confirm a 145% tariff on Chinese imports, while China reciprocated with a 125% levy on US imports. 'We have a very widespread supply chain… we are pretty resilient because we have a lot of different sources,' Mr Calamonte said, citing producers in northern Africa, Turkey, continental Europe, and the UK. Meanwhile, Asos reported revenues of £1.3 billion for the six months to March 2, declining 14% compared with the same period last year. It also warned that revenues were expected to come in at the 'bottom end' of its guidance range for the full year, which means sales could drop by as much as 9%. The decline has been driven by the platform clearing a build-up of stock and slashing the number of discounted items, focusing instead on selling products and new ranges at full price. Asos's own-brand products, sold at full-price, returned to growth during the period, while sales of its Asos Design range jumped by nearly a tenth in the UK. 'Our own-brand is doing better than our brand partners,' Mr Ramos Calamonte said. 'That is not a surprise, to be honest. We knew that, from the very beginning, in our new commercial model our own brands were going a little bit faster than our brand partners.' However, he said some ranges were 'selling really fast' such as collaborations with Adidas and New Balance, while Asos plans to add new brands to the platform like Good American and Pharrell Williams' Ice Cream label. The group narrowed its pre-tax losses to £241.5 million for the half-year, from £246.8 million a year ago. On an adjusted basis, earnings before interest, taxes, depreciation and amortisation (EBITDA) swung to a £42.5 million profit, from a £16.3 million loss the prior year.
Fashion United
24-04-2025
- Business
- Fashion United
Asos reports profitability turnaround in H1 2025
UK-based online fashion retailer Asos has announced a significant turnaround in profitability for the first half of fiscal year 2025, showcasing the early success of its new commercial model implemented over the past two years. The company reported a positive adjusted EBITDA increase of approximately 60 million pounds year-on-year in the first half period, attributing this growth to its revamped commercial strategy and consistent cost management. Asos reports improved H1 results In the UK, Asos's largest market, Asos Design total sales saw a 9 percent increase, contributing to market share growth. Globally, own-brand full-price sales also returned to growth during the first half. Overall revenues declined by 13 percent to 1.3 billion pounds, aligning with previous guidance and FY24 trends, primarily due to the annualizing of declines in older inventory and optimized performance marketing. CEO José Antonio Ramos Calamonte expressed confidence in the company's progress, stating, '"H1 FY25 is the strongest sign yet that our new commercial model is working. We are driving a significant transformation in profitability, with positive adjusted EBITDA up by £60m YoY.' 'Importantly, these successes have been achieved whilst maintaining strong cost control and improving our inventory health.' The company highlighted a positive customer response to increased product freshness and faster speed to market. This was reflected in a gross margin increase of around 500 basis points, driven by reduced markdown activity and a higher proportion of full-price sales. Asos also expanded its brand portfolio, adding over 25 new brand partners in the first six month period, including Bimba y Lola, Jimmy Fairly, and Oh Polly, with an additional 40 brands slated to launch in the second half, alongside more exclusive collections. Asos reiterates FY25 profitability outlook Looking ahead, the company's initiatives include the launch of the loyalty program, live shopping features, enhanced search and personalization, and further leveraging AI across the business. Reiterating its FY25 profitability guidance, Asos expects a gross margin of at least 46 percent and an adjusted EBITDA increase of at least 60 percent to between 130 million pounds and 150 million pounds, driven by a significant increase in its full-price sales mix. For FY25, revenue growth is expected towards the bottom end of the consensus range of negative 9 percent to negative 2 percent, while GMV growth is projected to be 1 to 2 percentage points better than revenue growth.
The Independent
10-03-2025
- Lifestyle
- The Independent
Save up to 30 per cent on Asos with these discount codes
Whether you're after transitional staples as we head into spring, an 11th-hour wedding guest dress, or an elevated outfit for work, Asos is the online destination for affordable fashion. Its in-house Asos Design range is much loved for its budget takes on viral designer pieces – think Realisation Par-inspired dresses, Ganni-esque styles and bags that give the Prada look for less. But it also has high street favourites like Topshop, Mango, Bershka and Pull & Bear on its roster. With more than 850 brands sold through the site, Asos's lines span women's and men's clothing, shoes and sportswear from the likes of Nike, Adidas and New Balance. A top tip – don't sleep on the beauty section, which features cult brands such as The Inkey List, The Ordinary, Isle of Paradise and Laneige. The selection is so vast, there really is something for everyone, and best of all, next-day delivery is available if you run out of your favourite fake tan or are shopping for a last minute party dress. Asos is no stranger to a deal, so, if there's something you've got your eye on, there's a fairly good chance you could secure it with a discount. True to form, Asos is offering up to 30 per cent off selected lines at the moment. Even better? You can save even more cash on your first order, thanks to an Asos discount code. Whether you're shopping for a spring jacket, summer dress or everyday basics, you can save 10 per cent on your first order with the code ' HIFRIEND ' at checkout. However, orders must cost between £20 and £500. It's worth noting that this offer also can't be used with other promo codes or on gift vouchers, delivery charges, premier delivery or Asos Marketplace. Selected marked products are excluded from the promotion, too. Should you be in the market for an everyday dress, you can benefit from 10 per cent off some of our favourite fashion finds, including this Asos Design denim mini dress (was £45, £39.50, or this prairie square neck maxi dress (was £34, now £31.60, Alternatively, with the weather warming up, you could use the discount to snap up some spring accessories, like a new pair of sunglasses. This pair of Seventies-inspired aviator sunglasses in peach lens (was £14, now £13.60, will add intrigue to your look while this butter yellow style (was £14, now £13.60, leans into this season's hottest colourway. Don't sleep on Asos's third party brand roster, either. This Abercrombie & Fitch denim waistcoat (was £52, now £47, will prop up your spring wardrobe while Mango's suede bag (was £99, now £90, will elevate your workwear wardrobe. If you're looking for a real bargain, you should take advantage of Asos offering up to 30 per cent off selected styles with the code ' RANDOM '. When it comes to shoes, this pair of red ballet flats (was £20, now £16.50, are perfect for brightening up spring outfits while this black pair of tie up flats (was £24, now £19, are equally versatile. If you sign up for an Asos account, it's also worth sharing your date of birth and ensuring you're opted in for email communication as the retailer gives its members a 10 to 20 per cent off discount code for their birthday. The discount amount and validity period may vary. Students can upgrade their new term wardrobes for less, too. Asos offers 10 per cent off full-price items and all you need to do to get the discount is verify your student status with SheerID or UNiDAYS. Why choose Asos? 'Asos is the ultimate destination for online, affordable fashion. There are new drops weekly from its in-house label Asos Design, helping you shop the latest trends on a budget. But the label is equally good for timeless wardrobe essentials, such as knitwear, jeans (there are petite, regular and tall lengths), winter coats and boots – all at bargain prices. Enabling you to browse all your favourite brands in once place, hero names such as Mango, New Look, Abercrombie & Fitch and Pull & Bear are all stocked, too, saving you a trip to the high street,' says Daisy Lester, senior eCommerce writer, who specialises in fashion. Best Asos deals When is the best time to save on Asos? One of the great things about Asos is that you can expect savings all-year round. While loved for its surprise flash sales – such as 20 per cent off everything for two hours only – you can also expect impressive discounts during popular sale events like Black Friday and Boxing Day – think up to 80 per cent off (including sale items). For the best deals, keep an eye on the regularly updated sale and clearance sections. Here, you'll find sought-after brands like & Other Stories, Mango, Topshop and Charlotte Tilbury at heavily discounted prices. Add your favourites to your save list and wait for an Asos sale offer, such as an extra 20 per cent off sale items. This way, your top picks are ready to go, so you can check out before they're gone. How we find the best discount codes Here at The Independent, we pride ourselves on being able to bring our readers the latest and greatest offers and discount codes that will see you secure the steepest price reductions possible. To do this, we always call on the expertise of our crack team of discerning deal hunters, who we've tasked with delivering us the very best offers, to help you save money. Why trust us The Independent 's shopping section is dedicated to helping its readers shop savvy and save money. Our astute shopping experts have years of experience when it comes to finding the most impressive deals across clothing, whether that be by hunting offers on the latest trends or helping you save on investment pieces such as cashmere or winter coats. We let this expertise and knowledge steer our curation of the best discount codes from reputable, trusted fashion brands.
