×
462
Fashion Jobs
MOLEDRO
Operation Manager
Permanent · NEW DELHI
MOLEDRO
HR &Admin
Permanent · NEW DELHI
MOLEDRO
Brand Manager
Permanent · NEW DELHI
MOLEDRO
sr Fashion Designer / Production Manager
Permanent · NEW DELHI
ADIDAS
Manager Information Security
Permanent · GURUGRAM
ADIDAS
sr. Manager Sales Excellence
Permanent · GURUGRAM
CL GUPTA RETAIL PRIVATE LIMITED
Production Manager Cum Quality Control Manager
Permanent · Noida
UGRAYA FOODS
Production Manager || Agartala (Tripura) || Poultry Feed Industry
Permanent · Agartala
GOVIND KRIPA INFRATECH PVT. LTD.
HR/Telecalling/Sales Manager/Sales Executives/Asst. Sales Manager
Permanent · Jaipur
JUMBO BAGS
Manager- Production (Fibc / Woven Polypropylene Industry)
Permanent · Chennai
ADIDAS
Manager, Masterdata And Product Launch (.Com & Digital Partners), Apac
Permanent · GURUGRAM
ADIDAS
Manager, Digital Backend Operations, Apac
Permanent · GURUGRAM
THE HOUSE OF DEEPTHI LIMITED
Production Manager
Permanent · MUMBAI
MANPOWERGROUP SERVICES INDIA PRIVATE LIMITED
Hiring-Field Sales Manager
Permanent · Chennai
YUTIKA NATURAL
Area Sales Manager (Guwahati)
Permanent · Katihar
LENSKART
Area Operations Manager
Permanent · Chennai
ELECTRONICA FINANCE
Area Sales Manager - Mumbai- Vasai
Permanent · Mumbai
ADIDAS
Manager Learning & Development & Knowledge Management (M/F/D)
Permanent · CHENNAI
D.LIGHT
Hiring For Area Sales Manager | Bihar | d.Light Energy
Permanent · Patna
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED
Loan Against Securities - Area Sales Manager
Permanent · Chennai
ANAND RATHI GLOBAL FINANCE
Hiring For Area Sales Manager Sme- Lap
Permanent · Mumbai
CURLYFE BIOSCIENCES
Senior Area Sales Manager
Permanent · Ghaziabad
By
Reuters
Published
Oct 20, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Asos confident on outlook as profit edges higher

By
Reuters
Published
Oct 20, 2015

British online fashion retailer Asos will concentrate its efforts and investment on its main markets of Britain, France, Germany and the United States, its new boss said on Tuesday.

Asos currently has nine locally focused websites also covering markets in Spain, Italy, Australia, Russia and China.


"Over the next couple of years our focus will be around keeping the UK business hot, with plenty of product innovation," said Chief Executive Nick Beighton.

"I will (also) be focusing on the eurozone, particularly France and Germany, and the third main point of focus is the U.S.." Beighton said China, which Asos entered in 2013, remained in "start up mode".

Asos' founder Nick Robertson quit as CEO last month after 15 years in which he transformed the Internet start-up into a retail powerhouse.

He was succeeded by Beighton, who stepped up from the chief operating officer role. Robertson has, however, remained a non-executive director.

The firm, whose fast fashion is popular with Internet savvy twentysomethings, met forecasts with a 1 percent rise in 2014-15 profit and said trading in its new financial year had started well.

Shares in Asos, which tend to be volatile and were already up 51 percent over the last year, rose by as much as 8.7 percent on Tuesday thanks to a positive outlook statement and a well received presentation to analysts.

Asos forecast sales growth for the 2015-16 year of about 20 percent, a maintained operating margin of 4 percent and 80 million pounds ($124 million) of investment. It has a target to eventually hit 2.5 billion pounds of annual sales.

Asos made a pretax profit of 47.5 million pounds in the year to August 31, on retail sales up 17 percent to 1.12 billion pounds. UK sales rose 27 percent, while international sales were up 11 percent.

The firm had a tough 2014 when it issued three profit warnings but its trading recovered in 2015, helped by price cuts and a pricing system that allows it to charge prices country by country to reflect fluctuating exchange rates.

Asos shares listed at 20 pence in 2001 and hit a high of 71.95 pounds in February 2014, giving it a market value of 6 billion pounds before the first of last year's profit warnings.

At 30.99 pounds the stock now has a market capitalisation of 2.58 billion pounds or more than two-and-a-half times the value of department store Debenhams.

$1 = 0.6462 pounds

 

© Thomson Reuters 2022 All rights reserved.