UK fashion retailer Asos posts drop in profits, but sales impress

  • Half-yearly profits at Asos, the UK online fashion retailer, fell to £18 million in the six months ending February, as compared to £20 million over the previous year’s same period. 

    The fall is being attributed to price cuts and international investments. The drop was recorded despite an aggressive Christmas sale period that saw a 14% rise in sales.

    Meanwhile, the six-month revenue was up 14% to £550 million. While UK sales for Asos shot up by 27% in the first half, international sales rose by 5%.

    Tagged as: profits, Asos, UK online fashion retailer, price cuts, international investments, Asos profits, Asos sales, business news