ASOS Gives Investors Some Relief, But Environment Remains Tough -- Market Talk

Dow Jones09-10

0736 GMT - ASOS's recent moves should provide investors with some near-term comfort, but challenges persist, Shore Capital analysts Katie Cousins and Clive Black write in a research note. The U.K. online fashion retailer intends to sell a stake in its Topshop and Topman brands to Heartland for 135 million pounds via the formation of a joint venture. The company will also launch a refinancing plan. Both measures have reduced one of the key risks to the investment case: liquidity, the analysts say. While providing some near-term relief, there are still some longer term concerns, including loss of share, a tough competitive market and weak discretionary consumer spend for clothing, the analysts add. Shares trade 4.6% lower at 415 pence. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

September 10, 2024 03:36 ET (07:36 GMT)

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The U.K. ...</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":"ISBC","symbol_name":"投资者银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2466310220","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466310220","pubTimestamp":1725953760,"columns":[],"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":"0736 GMT - ASOS's recent moves should provide investors with some near-term comfort, but challenges persist, Shore Capital analysts Katie Cousins and Clive Black write in a research note. 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