The boss of Asos has insisted that the “medicinal” actions it has taken over the past two years are finally beginning to soothe its ailments and stop weighing on profits.
The online fashion retailer for “twentysomethings” struck an upbeat tone as it announced that it had halved inventory levels since 2022 and sold more full-price goods, as part of its strategy to boost profitability.
Asos said it expected further margin improvements to drive 60 per cent growth in earnings before interest, taxes, depreciation, and amortisation (ebitda) to between £130 million and £150 million in the new financial year.
Shares in the business still fell 6.9 per cent to 350p, however, as the strategic actions it took weighed on the latest income statement.
The London-listed company