ASOS warns on profit as returns spike, appoints new CEO

© Reuters. FILE PHOTO: A keyboard and a shopping cart are seen in front of a displayed ASOS logo in this illustration picture taken October 13, 2020. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) – British online fashion retailer ASOS (LON:) said on Thursday inflationary pressure was increasingly impacting customers’ shopping behaviour, resulting in significantly higher levels of returns as it announced a new chairman and chief executive.

The company said it expected revenue to grow by 4% to 7% this year, with adjusted pre-tax profit coming in between 20 million pounds and 60 million pounds ($24-$73 million).

It said it had appointed Jose Antonio Ramos Calamonte, currently chief commercial officer, as chief executive, and Jorgen Lindemann as chair. ($1 = 0.8234 pounds)


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