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LON:ASC
Asos.com is the UK's largest online fashion and beauty store, attracting over one million visitors a week. Asos.com is traded in the NEX Exchange HERE
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Shares sales from major shareholders, especially those at a discount to the market price, are often seen as a sell signal, but the City still reckons there’s some money to be made with ASOS
Here we discuss Next's latest trading, which precipitated an 8% fall in the share price. But was it all a bit of an overreaction?
A look at some of the top risers and fallers in London today
Liberum raised its rating on Boohoo to ‘buy’ from ‘hold’ and lifted its target price to £2.40 from £2.20
Goldman’s analysts said they expect ASOS’s sales to grow by around 24% in full-year 2019/20, which is the top end of the group's mid-term guidance, and see them reaching around £4.5bn/£7bn between full-year 2021 to 2024
Footsie added nearly 26 points to stand at 7,626, while FTSE 250 also finished higher - up almost 71 points at 20,871
Three major retailers saw their share prices hammered after releasing trading updates
"The main challenge for ASOS is keeping a lid on the spending needed to support further sales growth,” said George Salmon, equity analyst at Hargreaves Lansdown
Some of the main news-driven risers and fallers in London on Thursday ...
ASOS left its full year estimates unchanged but expects sales growth to be at the lower end of its guidance range
Sterling was also stronger - up 0.06% to 1.1318 against the Euro and up 0.12% versus the US dollar
Archive
Thursday will see retailers ASOS and Dunelm to the fore. The former is expected to issue an upbeat statement while the latter will be looking to prove it is not curtains for its growth story.
When looking for the 'next big thing' it is perhaps natural to look back at past success stories - on AIM, there are few bigger success stories than ASOS
Archive
Aside from M&S and ASOS, the week ahead will also bring trading updates from the likes of Ocado, Burberry, Barratt Development, Experian, and JD Wetherspoon
Brian McBride will step down as chairman of ASOS in November after six years in the role
The UK blue-chip benchmark closed up over 45 points higher at 7,593, while FTSE 250 added over 59 points at 20,665.
“Given the similar growth profiles, along with better cashflow profiles and stronger balance sheets, we prefer Zalando and boohoo on the European apparel e-commerce space,” the analysts said
Redburn reckons there is a big space in the US waiting to be filled by Asos, which it prefers over its fast fashion rival Boohoo.com
On June 21, the court voted to overturn a 1992 physical presence requirement, which would now allow states in the US to collect an extra US$8-23bn a year in sales taxes
"Ultimately working with the likes of Amazon is probably a good way to tackle the digital space," said former M&S global digital director Marcus East
