Asos Plunges as Overseas Growth Stutters Amid Heavy Spending
- Retailer says sales growth faltered amid distribution upgrade
- Expanded German facility is part of Brexit planning, CEO says
This article is for subscribers only.
Asos Plc shares tumbled after the U.K. online fashion retailer reported an unexpected slowdown in international sales while it increased spending on distribution.
Asos now expects full-year sales growth to be toward the lower end of its forecast range of 25 percent to 30 percent, the London-based company said in a statement Thursday. The shares fell as much as 12 percent, their biggest loss since April.