Asos Reports £380m Loss, Sees Signs of Recovery

Despite widening losses, Asos is optimistic about its new strategies and expects profitability improvements in the coming year.

Asos's pre-tax losses increased to £379.3 million, with a 16% drop in overall revenues to £2.9 billion.
The company has reduced its unsold stock by 50%, focusing on a rapid 'test and react' product model.
New stock sales have risen by 24%, while old stock sales have decreased by 30%, signaling potential recovery.
Despite the competitive fashion market, Asos aims to improve its gross margin towards 50% by refining its product offerings.
Asos's strategic focus includes reducing stock levels, enhancing operational efficiencies, and shifting towards profitability.