Latest news with #JoseAntonioRamosCalamonte
Fashion United
25-04-2025
- Business
- Fashion United
Topshop confirms return to high street via wholesale partners
The relaunch of Topshop and Topman (TSTM) is continuing to unravel. This time, it appears the brands' current part owner, Asos, has confirmed a possible return to the high street. Yet, while many fans of the brands were hoping for a standalone store, it seems that a different approach is being taken first. In the e-tailer's latest financial report, the company confirmed that it was teaming up with 'a select range of wholesale partners' for the brand's upcoming relaunch, and it was thus 'excited to bring the best of TSTM to customers through new avenues'. This would sit alongside a branded standalone online store, set to launch 'by the end of FY25', the regulatory filing read. Plans were further elaborated on in a statement from Asos CEO, Jose Antonio Ramos Calamonte, to The Mirror. Speaking to the media outlet, the executive said the company had reached agreement with specific wholesalers, before adding that 'we have listened to our customers and we understand they want a return to the high street'. While no physical Topshop stores have been confirmed, Calamonte noted: 'We haven't ruled anything out.' His comments come on the back of repeated social media activity teasing at the impending relaunch of the British brand, which most recently took to Instagram to share that it would 'see you IRL [in real life, ed.] in August'. Its roll out is being overseen by both Asos and its new controlling owner Heartland, which snapped up a 75 percent stake in the business back in 2024. Asos, however, has retained the wholesale and licensing rights to the labels. Read more:
Fibre2Fashion
24-04-2025
- Business
- Fibre2Fashion
ASOS can face US tariffs fallout due to improved agility, flexibility
British online fashion retailer ASOS posted higher half-year earnings for the 26 weeks to March 2, saying it can cope with the fallout from US tariffs due to 'improved agility and flexibility' of its sourcing and distribution model despite facing new upheavals from tariffs and trade turmoil. Its half-year adjusted earnings (EBITDA) for the period was £42.5 million (~$56.57 million). The company said it is on track for annual earnings to hit £130-£150 million (~$173.04-199.7 million). ASOS posted higher half-year earnings for the 26 weeks to March 2, saying it can cope with the fallout from US tariffs due to 'improved agility and flexibility' of its sourcing and distribution model despite facing new upheavals from tariffs and trade turmoil. Its half-year adjusted earnings for the period was $56.57 million. It said it is on track for annual earnings to hit $173.04-199.7 million. The United Kingdom is ASOS's biggest market, but the United States accounts for about 10 per cent of its total sales. Customers are responding well to increased newness and speed to market as gross margin was up year on year (YoY) in the first half (H1) of fiscal 2024-25 of the company, driven by lower markdown activity and higher full-price mix, demonstrating strength of new commercial model offering, the company said in its summary of financial results. In the United Kingdom, total ASOS Design sales rose by 9 per cent YoY in H1. Globally, own brand full-price sales returned to YoY growth in the first half. "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 c.£60 million YoY. Customers are responding positively to our focus on full-price sales, speed to market, and quality,' Jose Antonio Ramos Calamonte, chief executive officer said. '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," he added. Initiatives in the second half include launching loyalty programme, live shopping features, enhanced search and personalisation, as well as further leveraging artificial intelligence across the business. Fibre2Fashion News Desk (DS)
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
Daily Mirror
24-04-2025
- Business
- Daily Mirror
Topshop owner issues major update on fashion chain returning to UK high street
The boss of online fashion giant Asos has confirmed rumours that Topshop will be returning to the high street - after its 2020 collapse - but not with its own stores, for now at least Topshop is set for a high street return after demand from shoppers, the firm behind it has confirmed. Online giant Asos, which bought the business after the collapse of shamed tycoon Sir Philip Green 's Arcadia empire, has given its clearest sign yet that the once beloved brand is making a comeback. A standalone Topshop website is set to be launched this summer. And Asos revealed that it was in talks to introduce Topshop clothing in stores - though through other retailers rather than its own shops at its stage. Asos boss Jose Antonio Ramos Calamonte said: 'We have listened to our consumers and we understand they want a return to the high street,' adding 'eventually we will come back to have a physical presence'. He said they had reached agreement with 'some selected wholesale partners', with talks ongoing with others. While not giving details, it could involve Topshop concessions within department stores or elsewhere. Although there are no plans for Topshop standalone stores, Mr Calamonte added: 'We haven't ruled out anything'. Asos first sparked speculation last month when Topshop posted three teasers on social media, telling online followers: 'WE'VE MISSED YOU TOO' in a series of clips captioned 'WE'VE BEEN LISTENING.' At its height, Topshop had more than 500 stores worldwide, including 300 in the UK, and legion of young fans who flocked for its fast changing designs. However, it fell on hard times during the pandemic when high street sales plummeted. Arcadia entered administration in 2020 and Topshop, Topman and Miss Selfridge were all acquired by Asos in 2021, moving to purely online sales. Asos sold a 75% stake in Topshop and Topman to Danish company Bestseller in September last year. The collapse of Arcadia, which also included famous high street names Topman, Burton and Dorothy Perkins, led to the loss of 13,000 jobs and an estimated £350million hole in its pension fund. Green agreed to inject a substantial sum after talks with the Pensions Regulator. The demise shattered the reputation of Sir Phillip, once seen as the king of the high street. It came as Asos downplayed the impact of Donald Trump 's US imports tariffs on its shipments to American customers. Alongside the new levies, the White House is closing a tax loophole on deliveries of products under $800, specifically those sent from China and Hong Kong, from May 2. Until now, it has allowed low-value packages to enter the US without incurring any duties. The removal of the 'de minimis' rule will impact is seen as impacting the likes of the fast-fashion giant Shein and budget retailer Temu the most. Asos insisted that only around 5% of what it sells in the US comes from China, but most shipments to the States come from its UK warehouse, so will be liable to a 10% tariffs. The company hinted that it could absorb the extra cost rather than pass it on to customers. Asos reported a fall in half-year sales as it continued to clear a build-up of stock and slash the number of discounted fell by 14% to £1.3 billion for the six months to March 2 But the group narrowed its pre-tax losses to £241.5million for the half-year, from £246.8million a year ago. Mr Calamonte 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.'
