Jul 12, 2018

Asos shares hit as sales outlook disappoints

Shares in Asos have fallen more than 10% after the online clothing giant said sales growth this year would be at the lower end of forecasts. The drop in its shares came despite Asos reporting a 22% rise in sales to £823.9m in the four months to 30 June. Asos' shares have risen by 13% over the past year. Its shares were first listed in 2001 at 20p. The company, which targets "Fashion-loving 20-somethings", has enjoyed rapid growth over the past few years. Analysts are expecting Asos to report full-year profits of £101m, up from £80m the year before.

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