- Don-Alvin Adegeest |
When Asos issued a profit warning in Pre-Christmas trading last December nobody could foresee it could cost 100 jobs at the company's headquarters.
But as the fast fashion pure player continues to battle against a tough market and sliding sales, many working in the London office, particularly in its marketing team, could face the threat of redundancies.
According to the Sunday Times, approximately 100 staff may lose their jobs after pre-tax profits fell 87 percent in March when the company revealed its half year results.
The retailer blamed some of its struggles on issues at a new warehouse in the US earlier this year, noted the London free sheet City AM. The Atlanta site was unable to cope with a surge in demand, which hurt profitability in America.
Asos has also ramped up its free returns policy, with serial returners "treating the Asos proposition sometimes, regrettably, as a rental service,” said Nick Beighton, chief executive of Asos.