ASOS PLC

ASOS Plc engages in in the operation of a multi-platform offering fashion products for 20-somethings. The firm offers clothes and other fashion items available in retail. It operates through the following geographical segments: United Kingdom, United States, and European Union. The company was founded by Nicholas Jon Robertson and Quentin John Griffiths on June 2, 2000 and is headquartered in London, the United Kingdom.

ASOS Plc (OTCPK:ASOMF) Q4 2024 Earnings Conference Call November 5, 2024 5:30 AM ET Company Participants José Antonio Ramos Calamonte - CEO Michelle Wilson - Chief of Staff & Strategy Dave Murray - CFO Conference Call Participants Anne Critchlow - Berenberg Yashraj Rajani - UBS Mia Strauss - BNP Paribas Andy Wade - Jefferies John Stevenson - Peel Hunt Sarah Roberts - Barclays José Antonio Ramos Calamonte Everyone, we're going to start. Sorry, we're starting a little bit late, but we're waiting for some more people to come.

ASOS Plc (ASOMF) Q4 2024 Earnings Call Transcript

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Online fashion retailer ASOS PLC (LSE:ASC) underdelivered in today's full-year results, but AJ Bell's investment director Russ Mould highlighted several positives tucked away in the figures. A lack of another profit warning drew “some comfort”, said Mould, as did ASOS' improved debt profile thanks to a debt refinancing and the Topshop disposal.

ASOS positives accentuated, but market plays deaf

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German online fashion giant Zalando put ASOS's woes firmly into perspective as it unveiled a 300% rise in underlying profits in its latest quarter. Revenues rose by 5% to €2.38 billion in the three months to September 2024 while underlying profits [adjusted EBIT] jumped to €93 million from €23 million.

Zalando profits rise 300% as it leaves ASOS in the dust

Online fashion group ASOS PLC (LSE:ASC) was firmly stuck in the mud this financial year, with group-wide sales falling by 16% to £2.9 billion. This was a worse-than-expected result compared to the 15% sales decline previously guided by the group.

Losses pile up for ASOS as large-scale discounting pummels sales

British online fashion retailer ASOS said that it expected its adjusted earnings to rise by at least 60% in its 2025 financial year, after a turnaround plan focused on ditching discounting and improving its products gained traction.

UK's ASOS forecasts profit jump in 2025

ASOS PLC (LSE:ASC) copped a rare upgrade from the City, when Shore Capital Markets ditched its sell rating for a hold rating on the online fashion retailer. While Shore Cap analysts highlighted the group's improved debt position following the disposal of its Topshop and Topman brands, the upgrade was also a reaction ASOS' declining market valuation.

ASOS shares now cheap enough to stop selling - analyst

Investors will be eager to hear what online retailer ASOS PLC (LSE:ASC)'s forecasts are in the wake of its disposal of the Topshop and Topman brands to Danish multinational clothing business Bestseller. ASOS netted £118 million from the sale, which has helped to lower the group's debt position.

ASOS to make case for Topshop disposal

Boohoo Group PLC (AIM:BOO) has responded to aggressive demands to install Frasers Group PLC (LSE:FRAS) owner Mike Ashley as Boohoo's chief executive, citing Frasers' partial stake in ASOS PLC (LSE:ASC) as a possible issue. In a strongly worded open letter published on Thursday, Frasers delivered a savage teardown of Boohoo's “abysmal” leadership, saying it had “lost its ability to manage Boohoo's business and investment”.

Boohoo to Mike Ashley's Frasers: ASOS stake complicates leadership proposal

The new CEO is driving much-needed change for a struggling retailer. With improved operations, the company is reporting the best H1 free cash flow since 2017. Topshop divestiture and bond rollover are making ASOS' balance sheet stronger and are giving the company much-needed breath.

ASOS Plc: Becoming Stronger With Every Quarter

ASOS PLC (LSE:ASC) has completed the majority sale of its Topshop and Topman brands to Heartland, the holding company of Danish multinational clothing business Bestseller. Heartland now owns 75% of the brands, with ASOS retaining 25%.

ASOS finalises sale of Topshop to Danish clothing group

ASOS PLC (LSE:ASC) received a mixed response from City analysts when it announced the Topshop disposal in September, but recent analysis from Berenberg suggest there could be more upside to the online fashion portal than previously thought. Berenberg slapped a buy rating on ASOS in a research piece published this week, with a share price target increased from 490p to 600p.

ASOS has more upside than previously thought following Topshop sale, reckons Berenberg

ASOS PLC (LSE:ASC) has confirmed its net debt position has been slashed after a refinancing following the fashion group's sale of majority stakes in Topshop and Topman. Net debt has been wound down by £150 million on the proceeds from the brands' sales and the refinancing, ASOS said Wednesday, from £348.8 million as of March.

ASOS slashes debt on refinancing after Topshop sale

Equities analysts at Deutsche Bank see a long-term benefit to ASOS PLC (LSE:ASC)'s decision to divest the majority of its Topshop and Topman ownership to the Danish holding company of Bestseller. ASOS made the announcement, alongside a £250 million bond refinancing to help strengthen the balance sheet, on Thursday.

ASOS' Topshop disposal should be seen as a positive, says Deutsche Bank

ASOS PLC (LSE:ASC) shares rallied 20% to a 12-month high on Thursday following news that it intends to sell the lion's share of its Topshop and Topman brands to a Danish clothing group. This rally, however, barely scratches the 90%-plus decline in ASOS' market valuation since hitting a peak in March 2021.

Topshop disposal not enough to move the ASOS dial, say analysts

ASOS PLC (LSE:ASC) has announced the creation of a new joint venture in which 75% of its Topshop and Topman brands will be controlled by Heartland, the holding company of Danish multinational clothing business Bestseller. Heartland, which was already a major ASOS shareholder, will control 75% of the joint venture with ASOS controlling the rest.

Topshop to relaunch after ASOS sells majority stake to Danish clothing group

British online retailer ASOS said on Thursday it expects its annual sales to be slightly below its previous forecast, but guided adjusted core profit at the top end of market expectations.

UK online retailer ASOS upbeat on annual profit despite sales warning

ASOS PLC (LSE:ASC) is urging its staff to return to the office, warning staff that virtual meetings have a “detrimental” impact on company performance. Meetings regarding projects, brainstorming, pre-production, and commercial activities, are “vital” to be attended in a face-to-face office environment, the online fashion retailer told staff.

Asos urges workers to return to office

ASOS PLC (LSE:ASC) and Boohoo Group PLC (AIM:BOO) profits are set to be hit by weakened demand, increased competition and at-risk margins, analysts have warned. Following lacklustre results from both online fashion retailers in the last month, Shore Capital has forecast more gloom for the groups this summer despite some promising data.

Asos and Boohoo profits to take hit as demand falters – broker

India's Reliance Retail entered a partnership to sell British online retailer ASOS' products in India, the Reliance Industries unit said on Thursday.

Reliance Retail to sell UK's ASOS apparel in India

ASOS PLC (LSE:ASC) has received a damning review from Liberum, which noted time was ticking for the fashion retailer to improve cash generation. Some £500 million worth of convertibles are due for repayment in 2026, analysts from the bank highlighted in a note, potentially prompting a liquidity event.

ASOS may face liquidity event as convertibles deadline looms - analyst

Liberum has reiterated its 'sell' recommendation for ASOS PLC (LSE:ASC), with a target price of 360p, expressing concerns about the online retailer's recovery and financial health. In a detailed analysis, concerns were raised regarding the painful transition to a new operating model, which has resulted in a significant decline in sales and profitability in the short term.

'Sell' ASOS says bank as concerns still linger, says bank

ASOS plc saw group sales fall 18% year on year in the 26 weeks to 3 March, with top-line revenues coming in slightly above £1.5 billion. Adjusted losses before tax (LBT) increased from £87.4 million in the first half of 2023 to £120 million, though on a statutory basis, LBT improved from £290 million to £270 million.

ASOS's revenues fall 18%, adjusted losses widen

British online fashion retailer ASOS sunk to a first-half loss but stuck to its annual guidance for an improvement, naming former Sainsburys and Amazon executive Dave Murray as its new chief financial officer.

UK's ASOS sinks to first-half loss, names Dave Murray as CFO

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In what has been a tricky week already for the Footise, another dose of inflation news is probably not what it needs. But that's what it's got and investors will hope there is enough encouragement in tomorrow's number for the BoE at least to consider a cut to interest rates soon.

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