ASOS carnage: what are the experts saying?
A profit warning from one of the world’s most successful online retailers has wreaked havoc across the retail industry. Here’s why ASOS’ problems are so significant.
No-one is safe from the tide of woe in the retail industry, not even ASOS (ASC). The online-only retailer – which, until now has seemed largely immune from the risks of a cyclical slowdown in the consumer sector – has warned that trading in November was significantly worse than previous expectations. Carnage has been unleashed. ASOS has lost over £1bn worth of its value. The sentiment shared by most patrons of the retail sector seems to be that if ASOS is struggling, there’s no hope for anyone else. The group’s profit warning sent shares in fellow AIM-traded groups Boohoo (BOO)…