Outdated: Results expected to confirm 18 percent drop in sales
Asos will be in the spotlight this week amid falling sales that have left it unfashionable among investors.
Shares of the online retailer have fallen 19 percent as it struggles to improve its fortunes under CEO José Antonio Ramos Calamonte.
Analysts point to challenges including supply chain concerns, consumer caution, bad weather in the UK and competition from companies such as China’s Shein.
The company will publish results on Wednesday which are expected to confirm an 18 per cent drop in sales for the six months to March 3.
Its boss says Asos is striving to become a “faster, more agile company”.
Guy Lawson-Johns, analyst at Hargreaves Lansdown, said: “Investors will be looking for signs that better times are ahead and that a return to growth in the final quarter of this year is still on the cards.”