Nov 10, 2021
How fuddy-duddy M&S is trumping fast fashion
At M&S, after a dismal five years profits are going in the right direction, up as much as 10 times on last year if the retailer's upgraded forecasts hold true. Asos had a bumper year of pandemic trading, but has said it expects profits to fall by at least a quarter in its new financial year. Share price performance for the year to date shows fuddy-duddy trumping fast fashion. On Wednesday Asos set out details of its plan to increase sales to £7bn over the next three to four years. Shein could be the biggest clothing retailer in the world as early as next year, analysts at Morgan Stanley reckon.
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