ASOS Faces Rising Competition Headwinds -- Market Talk

Dow Jones04-09

1010 GMT - ASOS revenue could come at the bottom end of guidance for FY 2024 due to increasing competition pressures, Shore Capital analysts Katie Cousins and Clive Black write in a note. Rival online retailer Shein continues to be a threat, rapidly gaining market share in the U.K., they say. Meanwhile, the rise of recommerce is adding further pressure, with platforms Depop and Vinted gaining traction by playing into consumers' demands for sustainability and low prices, the analysts add. Such headwinds are likely to have persisted in 1H, leaving ASOS with more work to do in 2H, they say, noting that the company expects a 5%-15% fall in revenue for the fiscal year. Shore Capital cuts its FY 2024 revenue forecast by 4%, reflecting a 13% drop on year. Shares are down 53% on a 12-month basis. (michael.susin@wsj.com)

(END) Dow Jones Newswires

April 09, 2024 06:11 ET (10:11 GMT)

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Rival online...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4122","symbol_name":"互联网与直销零售","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2426816555","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2426816555","pubTimestamp":1712657460,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1010 GMT - ASOS revenue could come at the bottom end of guidance for FY 2024 due to increasing competition pressures, Shore Capital analysts Katie Cousins and Clive Black write in a note. 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