Good morning. The online fashion retailer Asos has warned on profits for the third time in only eight months, blaming operational problems as it overhauls its warehouses in America and Europe. The City had pencilled in profits of £55 million. “Whilst we are making good progress in improving customer engagement, our recent performance in the EU and US was held back by operational issues associated with our transformational warehouse programmes . impacting our stock availability, sales and cost base in these regions,” Nick Beighton, chief executive, said.

Source: The Times July 18, 2019 07:52 UTC