Asos PLC has decided to delay some of its autumn orders on concerns its customers will cut back on new clothes due to the cost-of-living crisis.
Some stock orders were completely cancelled over the last few weeks, all on short notice, according to a spokesperson for suppliers who spoke to The Mail on Sunday,
The online fashion retailer issued a profit warning in June citing inflation and a high number of shoppers returning items, with chief operating and financial officer Matt Dunn saying consumer sentiment had changed.
Despite this, the retailer said its supply chain operation was functioning well, with insiders cited in the Retail Gazette saying cancellations were “not running at above normal levels at this time” although there had been a “few more postponements.”
ASOS hares have slumped 70% over the past year and were down a further 1.5% today at 1,140p.