ASOS plc (GB:ASC) has released an update.
ASOS plc, a global online fashion retailer, has reported a decrease in adjusted group revenue by 18% to £1,497.5 million for the 26 weeks to 3 March 2024 compared to the previous six months. Despite this, the company’s strategic ‘Back to Fashion’ initiatives have led to improved free cash flow, stock reduction ahead of plan, and a significant improvement in cash performance since 2017. ASOS also reiterates its guidance for FY24, expecting a sales decline of 5 to 15%, positive adjusted EBITDA, and cash generation, with an anticipated increase in AEBITDA for FY25.
For further insights into GB:ASC stock, check out TipRanks’ Stock Analysis page.
