Nov 1, 2023

Asos: Lichfield warehouse to be closed as profits slump

Online fashion giant Asos is closing its warehouse in Lichfield, Staffordshire, as it struggles to stem falling profits. The firm said it expected sales would continue to fall by as much as 15% in the year ahead. The closure of the Lichfield warehouse, which only opened two years ago, could cost "Several hundred jobs", Asos said. Asos has been on a mission to reduce its stock and costs and improve its profits since new chief executive, José Antonio Ramos Calamonte, took over in June 2022. It was "In this context" Asos announced it was mothballing its warehouse in Lichfield - meaning it won't immediately be sold, but will not be used. At the time, Asos said it expected 30 million units to be shipped from it in its first year and up to 4.5 million units every week once fully operational.

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