July 24, 2014

Asos share price tumbles despite sales increase

The share price of ASOS closed down by 8.31pc on Tuesday, despite reporting a 26pc increase in sales for the first two months of 2014. This was below analysts’ expectations of a 33pc increase in sales.

However, the share price of ASOS really suffered due to an announcement that it would spend £68m on warehousing and IT costs, which was above the previous guidance of £55m.

 

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