Asos sales slow in August, FY profits seen in line with expectations

Online fashion retailer Asos said on Friday that August sales had been weaker than expected due to accelerating inflationary pressures and a slow start to the Autumn/Winter shopping period.

Asos also stated that adjusted pre-tax profits, total sales growth and net debt for the 12 months ended 31 August anticipated to be in line with market expectations, with profits seen at the bottom end of company guidance, constant currency sales growth pegged at around 2% and net debt expected to come to approximately £150.0m.

The FTSE 250-listed firm, which noted it had seen "good growth" in June and July, added that while it remains "cautious" about the outlook for consumer spending, it was also on track to make further strategic progress and manage its business for the current environment.

Asos will report its full-year earnings on 12 October.

Reporting by Iain Gilbert at Sharecast.com