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Europe's Retail Apocalypse Spreads to Online From Stores

  • Asos plunges after ‘significant deterioration’ in November
  • Online retailer cuts outlook, hitting shares of its rivals
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Bloomberg Opinion’s Andrea Felsted discusses the troubles for Europe’s retailers.Source: Bloomberg)
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Europe’s retail crisis is spreading from bricks-and-mortar stores to e-commerce as Asos Plc plunged the most in 4 1/2 years after warning that Christmas shopping got off to a disastrous start.

The gloomy update from a U.K. online retailer that competes with Amazon.com Inc. and has furnished fashions to the likes of Meghan Markle shows that retail weakness is widespread in the runup to the holidays.