ASOS Faring Better Than Peers From Re-Selling Competition -- Market Talk

Dow Jones11-01

0849 GMT - ASOS is benefiting from a greater focus on full-price sales and management-efficiency actions, Shore Capital analysts Katie Cousins and Clive Black write as they upgrade their rating on the stock to hold from sell ahead of next week's earnings release. They add that they believe ASOS has fared better from re-selling competition from the likes of Vinted than some of its peers, and that its joint venture with Heartland for the Top's brands presents a high street opportunity for the group. Despite this, the analysts say they would need to see a return in sales growth and improved customer metrics before turning more positive. Shares are currently flat at 357.40 pence, and are down 16% over the year to date. (ian.walker@wsj.com.)

(END) Dow Jones Newswires

November 01, 2024 04:51 ET (08:51 GMT)

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Despite this, the analysts say they would need to see a return in sales growth and improved customer metrics before turning more positive. Shares are currently flat at 357.40 pence, and are down 16% over the year to date. 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