ASOS PLC (LSE:ASC) (ASOS PLC (LSE:ASC)) has cautioned that adjusted pre-tax profits and net debt will be at the bottom end of company guidance, with constant currency sales growth of around 2% and net debt about £150mln.
Company guidance issued in June was for adjusted pre-tax profits in the range of £20mln to £60mln, sales growth of between 4% to 7% and net debt in the range of £75mln to £125mln.
In a trading update, the online retailer said sales in August were weaker than anticipated after having seen good growth in June and July.
The group said this reflected the impact of accelerating inflationary pressures on consumers and a slow start to Autumn/Winter shopping.
“While ASOS remains cautious about the outlook for consumer spending, it continues to make strategic progress and manage the business for the current environment,” the company said in a statement.
The cautious statement comes a day after a profit warning from Primark owner, Associated British Foods PLC (LSE:ABF) (Associated British Foods PLC (LSE:ABF)).