Asos saw its sales decrease again, but was able to earn significantly higher profits and therefore claims to be at a turning point in its turnaround. The online fashion retailer now presents itself as a “new Asos”.
Necessary sequence
In the 52 weeks to 31 August, sales fell 14 % to 2.46 billion pounds (2.9 billion euros) and its GMV decreased by 12 %. Nevertheless, its adjusted EBITDA rose by 60 % to 132 million pounds (150 million euros) and its gross margin improved by 370 basis points to 47.1 %, the strongest level in years.
