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Future of British Business

Asos Warns of Weak Sales as Inflation Hits Clothes Shopping

  • Online retailer says revenue missed expectations in August
  • Profit to be at low end of forecast for UK fashion brand
Updated on

British fast-fashion company Asos Plc warned that sales in August were weaker than expected as inflation crimped shoppers’ purchasing power.

Full-year profit will come in at the lower end of guidance, with sales growth of only about 2%, according to a statement Friday. The online retailer also cited a slow start to its autumn/winter ranges.