Expansion costs knock a fifth off profits at Asos April 2, 2014 ASOS boss Nick Robertson admitted yesterday that launching in China had been tougher than anticipated after start-up losses in the country and investment in expanding warehouses elsewhere dragged first half profits down by 22 per cent. The online fashion retailer made a pre-tax profit of £20.1m in the six months to 28 February compared with [...]
Inflation falling after price wars over Christmas – London week ahead January 11, 2015 CONSUMER price inflation figures for December, due out tomorrow, will shine a light on to what extent falling oil prices and intense retail competition have boosted spending power in the UK. Analysts says the fall in inflation is likely to have been tempered by the fact that there was more retail discounting than usual in [...]
Shazam joins billion dollar startup club after $30m funding round January 21, 2015 Music recognition service Shazam has closed a $30m (£19.8m) round of investment valuing the London-based firm at over $1bn (£659m). It makes Shazam one of just a handful of tech startups to emerge from the UK with a $1bn price tag attached. The new investment will be used to expand the service into new markets [...]
Brits spend £2,000 on online goods December 11, 2014 PEOPLE in the UK spend an average of £1,968 online on goods from the likes of Amazon, Tesco and Asos every year, far more than people in the US, France or South Korea. Australia followed in second place with an average spend of £1,356 and the US came in third with an average spend of [...]
Shares plunge as Asos ramps up investment March 18, 2014 ASOS shares plunged eight per cent yesterday after the online fashion retailer said it will ramp up spending on warehouses to meet growing demand at the expense of short term profits. Chief executive Nick Robertson said it will lift capital expenditure this year to £68m from the £55m previously forecast as it accelerates its investment [...]
Asos’ profits warning is crushing online retailers March 18, 2014 This morning, Asos chief Nick Robertson delivered the surprise warning that the company’s earnings margin will decline this year to around 6.5 per cent. Shares crashed over 20 per cent on the news. The reason given is that the store’s upping its investment in warehouses in Europe, along with its new venture in China, and [...]
The UK has the most valuable online shopping market in the developed world December 12, 2014 The UK spends more money per head online than any other developed country, with the average Brit spending £2,000 per year on the likes of Amazon, Asos and John Lewis. In the UK, 59 per cent of people said that they had use online shopping at least once a week to buy products, according to [...]
Primark sales soar 15pc but Associated British Foods warns lower sugar prices will hit profits January 15, 2015 Primark will not do enough to offset the fall in sugar prices and currency headwinds for parent company Associated British Foods, which is expecting a "marginal decline" in adjusted earnings per share for the year. Total revenues at ABF grew three per cent for the 16 weeks to 3 January, with Primark providing the bulk [...]
Analyst Views: Did Asos’ update change your outlook for the group’s strategy? April 2, 2014 JOHN STEVENSON | PEEL HUNT With significant global growth potential remaining and an earnings margin potential that is materially above current performance, we believe the recent sell-off provides a good buying opportunity, noting that a pick-up in more recent trading levels after a soft February are likely to provide a step up in sales momentum. [...]
The Golden Age: Octopus’s George Whitehead on an extraordinary five years for UK technology and enterprise March 1, 2015 It's been an impressive five years for the UK technology and enterprise industry. From the establishment of Tech City to the development of world-leading accelerator programmes, and the international success stories of businesses like Deep Mind, Asos, Zoopla, CSR and Shazam, it is no secret that Britain has become a leading light in entrepreneurship. DISPROPORTIONATE [...]