Jan 13, 2021
City Bulletin: Revenues surge at online clothing retailer Asos
Fewer happy returns have lifted Asos, with the online fashion retailer saying full-year earnings will be at the top end of current market expectations thanks to improved festive season trading. Orders were up 56 per cent in Germany, by 58 per cent in the UK and by 39 per cent in the Netherlands as the company said it had made "Significant market gains in most of our countries". Guidance for a full-year adjusted ebitda margin of approximately 10 per cent was slightly below market expectations, however. William Hill reported a 9 per cent increase in total net revenue for the fourth quarter. As a result the company expects to post an 11 per cent fall in like-for-like sales for 2020 and an adjusted operating profit at the top end of consensus forecasts.
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