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
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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.