Overview

• Revenues for the six months to March 2, 2025, fell 14% year-on-year to £1.3 billion, in line with guidance.
• Pre-tax losses narrowed to £241.5 million, while adjusted EBITDA swung to a £42.5 million profit from a £16.3 million loss last year.
• Asos reduced stock levels by about 60% since 2022, with 80% of its fashion items now less than six months old.
• A shift to full-price sales increased average basket value by 4%, with over 15% of own-brand sales driven by its 'test and react' model.
• The company maintained cautious full-year guidance, forecasting revenue declines at the lower end of its 2% to 9% range.