Asos PLC has privately told analysts it expects annual pretax profit at the lower end of its guidance range, the Sunday Times reported. Asos in June said it expects adjusted pretax profit in the range of £20 million to £60 million. The Sunday Times reported the online only retailer has now briefed City analysts that it expects profit in the lower end of that range, blaming high customer clothing return rates. Adjusted pretax profit in financial 2021 amounted to £193.6 million, so Asos expects a fall of as much as 90%. The Sunday Times reported a source close to Asos said these briefings are standard pre-close procedure for the company.

Source: The Times September 05, 2022 16:34 UTC