Fire Need Not Be a Reason to Panic for Asos Shareholders: ChartBy
Asos Plc eased from a three-year high after about a quarter of the inventory at a new Berlin warehouse was affected by fire, yet history shows investors shouldn’t be too alarmed. In 2005, the shares quickly resumed their upward trajectory after an explosion at a nearby oil terminal caused a monthlong suspension of operations, and they also soon rebounded after a 2014 fire at the company’s main warehouse in northern England. The financial impact of the latest incident should be limited and have no impact on strategy, UBS analyst Adam Cochrane said in a note.
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