HIIT news and archive

Asos cuts profit outlook

Asos reported quarterly sales growth of 4 percent in the three months ended 31 May against a prior comparative growth rate of 47 percent reflecting P3 gross sales growth broadly in line with expectations. The company has updated guidance for the year to reflect uncertain consumer purchasing behaviour and the potential continuation of higher...

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Asos posts sales and profit growth, CEO Nick Beighton steps down

For the year to August 31, 2021, Asos plc reported total sales growth of 22 percent to 3,910.5 million pounds. The company said that growth was underpinned by exceptional performance in the UK which grew at 36 percent, whilst internationally sales growth in both the EU and US was 15 percent and 21 percent, respectively, reflecting the wholesale...

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Management

Asos acquires Arcadia labels for 265 million pounds

British online retailer Asos has announced the acquisition of Topshop, Topman, Miss Selfridge and HIIT brands for 265 million pounds. The company said that the transaction is fully cash funded from existing cash reserves. Additionally, Asos will purchase 30 million pounds of stock upfront to support initial trading before these brands are...