Shares slump as Asos issues third profit warning September 16, 2014 ASOS suffered a wardrobe malfunction with investors yesterday, after the online fashion retailer issued its third profit warning in seven months. The former stock market darling warned it would need to cut prices across its international markets, including Australia, after the strength of sterling made the price of its clothing less appealing for customers. Asos [...]
Happy birthday Aim: How 20 years of London’s junior market stacks up June 19, 2015 Today is the 20th anniversary of the UK's junior market: despite the fact Aim is currently sitting 24 per cent below its opening price, it has enjoyed some remarkable success stories. The market started with just 10 components at its launch back in 1995; these days, 1,074 companies are listed on Aim. Its value has [...]
Asos share price leaps as sales climb 27 per cent following tough year for online retailer October 21, 2014 Shares in online retailer Asos have leaped almost 20 per cent this morning, after the beleaguered online retailer reported a 27 per cent rise in sales. Although results posted today showed pre-tax profits fell 14 per cent to £46.9m in the year to the end of August, from £54.7m during the same period last year, [...]
Asos share price surges on reports of US buyout August 27, 2014 Shares in online fashion retailer Asos soared yesterday on unconfirmed reports that a US company is eyeing a stake in the business. Asos shares, which have fallen by almost two-thirds this year after two profit warnings and a fire at its main warehouse, jumped 17 per cent to 2,751p, pushing up other online players, including [...]
Analyst Views: How has Asos’ update changed your outlook for the company? September 16, 2014 JOHN STEVENSON | PEEL HUNT Do we still see this business getting to £2bn-£3bn of turnover? Yes. Is the profit outlook at that level of turnover materially different than we thought it might be? Yes. FREDDIE GEORGE | CANTOR FITZGERALD After this update and the revision to 2015 forecasts, there will inevitably be questions over [...]
London Report: Fears over Scotland and Asos statement pull down markets September 16, 2014 BRITAIN’S top share index fell yesterday, with financial stocks underperforming as investors showed reluctance to buy up new positions before tomorrow’s Scotland independence referendum. The FTSE 100 index closed down by 0.2 per cent, or 11.97 points, at 6,792.24 points, with a fall in major financial stocks weighing on the market. Retail shares took a [...]
Asos slumps to 18-month low August 5, 2014 SHARES in online clothing retailer Asos hit an 18 month low yesterday after Liberum said it expected shares to fall a further 38 per cent in coming months as its first mover advantage was eroded by market competitors. Asos’ shares have fallen 62 per cent since the start of the year in the wake of [...]
Manufacturing data help FTSE to bounce back after big falls – London Report April 1, 2015 DATA RELEASED yesterday showing that Britain’s manufacturing sector grew at the fastest pace in eight months prompted investors to buy equities on the first trading day of the quarter. The blue-chip FTSE 100 closed 0.5 per cent higher at 6,809.50 points after a 1.7 per cent slide on Tuesday that trimmed its first quarter gains [...]
Forget Silicon Valley and Silicon Roundabout: Birmingham’s Silicon Canal is the future of the UK’s technology sector July 23, 2015 For years now we've been told that London could rival the Silicon Valley with its own tech hub. But five years after launching my business, I’m a bigger advocate for Birmingham's Silicon Canal than I have ever been. There is an incredible talent pool in Birmingham that offers a wealth of brilliant software engineers. These [...]
London Stock Exchange Group buoyed by rise in volumes – but Aim still suffering June 25, 2015 Things were looking up for London Stock Exchange Group (LSEG) in the five months to the end of May – although volumes were less encouraging on its junior market. The figures New issues on LSEG's main markets were up 29 per cent in the period, while average daily UK equity value traded was up eight per [...]