ASOS's Continuing Sales Drop Is Extremely Worrying, AJ Bell Says -- Market Talk

Dow Jones03-26

1005 GMT - ASOS's 1H showed a continuing sales decline, which is extremely worrying as it suggests that either the choice of products is wrong or customers are shopping elsewhere, AJ Bell investment director Russ Mould says in a note. "It's worth noting that ASOS has been sitting on a mountain of unsold clothes and the priority has been to clear this inventory. Naturally, if it is slashing prices on this stuff, customers might be tempted to buy the discounted goods rather than full-price items," Mould notes. Within this context, it is challenging to identify sales trends as the figures continue to be distorted by the inventory run-down, he adds. Shares are up 10%, but down 48% on a 12-month basis. (michael.susin@wsj.com)

(END) Dow Jones Newswires

March 26, 2024 06:05 ET (10:05 GMT)

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Naturally, if it is slashing prices on this stuff, customers might be tempted to buy the discounted goods rather than full-price items,\" Mould notes. Within this context, it is challenging to identify sales trends as the figures continue to be distorted by the inventory run-down, he adds. Shares are up 10%, but down 48% on a 12-month basis. 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Naturally, if it is slashing prices on this stuff, customers might be tempted to buy the discounted goods rather than full-price items,\" Mould notes. Within this context, it is challenging to identify sales trends as the figures continue to be distorted by the inventory run-down, he adds. Shares are up 10%, but down 48% on a 12-month basis. 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