Weaker demand and delivery disruption hit key British market
ASOS said UK sales were down 8 per cent in the period which it blamed on weak consumer sentiment, earlier cut-off dates for Christmas deliveries due to the delivery problems and a tough comparison against last year when the pandemic favoured online.Online fashion retailer ASOS reported a 3 per cent fall in revenue over the four months to the end of December, hurt by weaker demand and delivery disruption in its biggest market Britain and making it one of the laggards in the sector.
Britain is in the midst of a cost-of-living crisis but rival retailers with physical shops such as Next outperformed ASOS in the period as consumers prioritised festive spending and chose to visit stores rather than worry about delivery issues. ASOS said UK sales were down 8 per cent in the period which it blamed on weak consumer sentiment, earlier cut-off dates for Christmas deliveries due to the delivery problems and a tough comparison against last year when the pandemic favoured online.
José Antonio Ramos Calamonte, ASOS's chief executive who took over last year, wants to overhaul the company's business model after profits dived following the end of pandemic restrictions and after a string of operational problems.
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