{"id":14135,"date":"2019-07-18T09:32:38","date_gmt":"2019-07-18T08:32:38","guid":{"rendered":"http:\/\/www.fiveminutesspare.com\/news\/?p=14135"},"modified":"2019-07-18T09:32:38","modified_gmt":"2019-07-18T08:32:38","slug":"asos-shares-fall-27-as-it-issues-profit-warning","status":"publish","type":"post","link":"https:\/\/www.fiveminutesspare.com\/news\/asos-shares-fall-27-as-it-issues-profit-warning\/","title":{"rendered":"Asos shares fall 27% as it issues profit warning"},"content":{"rendered":"<p><span style=\"color: #000000;\">Shares of online fashion retailer Asos have lost more than a quarter of their value when a profit issue was offered earlier today.\u00a0 Asos revenue was up by 12% in four months until the end of June compared to the sales last year.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">Chief executive Nick Beighton said annual pre-tax profits were now expected to come in between \u00a330m and \u00a335m, compared with pretax profits of \u00a3102m last year.<\/span><\/p>\n<p><span style=\"color: #000000;\">Asos have said sale growths in the US and Europe had been held back with problems at its warehouses.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-14136\" src=\"http:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/07\/shutterstock_1099304285.jpg\" alt=\"\" width=\"909\" height=\"591\" srcset=\"https:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/07\/shutterstock_1099304285.jpg 1000w, https:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/07\/shutterstock_1099304285-300x195.jpg 300w, https:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/07\/shutterstock_1099304285-768x499.jpg 768w\" sizes=\"auto, (max-width: 909px) 100vw, 909px\" \/><\/p>\n<p><span style=\"color: #000000;\"><strong>Mr Beighton told investors<\/strong>: &#8220;Embedding the change from the major overhaul of infrastructure and technology in our US and European warehouses has taken longer than we had anticipated, impacting our stock availability, sales and cost base in these regions.&#8221;<\/span><\/p>\n<p><span style=\"color: #000000;\">He added: &#8220;We are clear on the root causes of the operational challenges we have had, are making progress on resolving them, and now expect to complete these projects by the end of September.<\/span><\/p>\n<p><span style=\"color: #000000;\">&#8220;Despite these short-term challenges, the move to a multi-site logistics infrastructure will enable us to offer customers across the world our market leading proposition, facilitate our future growth, as well as leading to longer-term efficiency benefits.&#8221;<\/span><\/p>\n<p><span style=\"color: #000000;\">Shares of Asos fell by up to 27%. This is the third time in eight months the online retailer has issued a profits warning.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of online fashion retailer Asos have lost more than a quarter of their value when a profit issue was offered earlier today.\u00a0 Asos revenue was up by 12% in four months until the end of June compared to the sales last year.\u00a0 Chief executive Nick Beighton said annual pre-tax profits were now expected to&#8230;<\/p>\n","protected":false},"author":59,"featured_media":14136,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"footnotes":""},"categories":[34],"tags":[440,47,1439],"class_list":["post-14135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-asos","tag-business","tag-profit-warning"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/14135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/comments?post=14135"}],"version-history":[{"count":1,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/14135\/revisions"}],"predecessor-version":[{"id":14137,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/14135\/revisions\/14137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/media\/14136"}],"wp:attachment":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/media?parent=14135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/categories?post=14135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/tags?post=14135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}