Shares in ASOS have surged depsite the online fashion retailer posting a 14% fall in annual profits.
The firm, which had issued three profit warnings this year, made a pre-tax profit of £46.9m in the 12 months to 31 August.
During the year ASOS had to cope with a costly fire at its Barnsley warehouse in June - saying the impact could have cost it up to £30m though the running total was currently £8.5m.
It also launched a new business in China and confirmed last month it would cut prices to reverse a slowdown in sales growth in international markets.
Founder and chief executive Nick Robertson said: "We are in a period of major investment that comes at a short-term cost, but the medium-term benefits will be significant.
"ASOS has always been about the longer journey to a very big prize: to be the world's leading fashion destination for twentysomethings."
He added the firm was now focused on a sales target of £2.5bn.
Total retail sales, reported last month, rose 27% on a constant currency basis to £955.3m for the year, with UK sales up 35% and international sales up 22%.
Until this year ASOS had been the great success story of British retailing and a darling of the stock market though shares had been hit - by 68% in 2014 ahead of today - in the wake of the profit warnings.
They recovered some of that ground in early trading on Tuesday, rising 15% in the first hour.
ASOS had previously stated it expected 2014/15 profits to be in line with those of its previous financial year because of the extra costs.
The firms also said today it had promoted chief financial officer Nick Beighton to the chief operating officer role.
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