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Category: Asos

  • ASOS shutters US warehouse as part of cost-saving turnaround plan

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    Investor Empires

    Asos has announced a one-off impairment charge of £200m after it decided to idle its main US warehouse near Atlanta, Georgia, in a move aimed at cutting costs and boosting profitability. Later this year, the online fashion retailer’s American customers will be served from its UK automated distribution center in…

  • ASOS sells majority stake in Topshop and Topman for £135m as iconic brands set to relaunch

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    Investor Empires

    Topshop and Topman, once among the UK’s most popular clothing brands, are set to make a comeback with a relaunch of their websites after ASOS sold a majority stake in the brands for £135m. Danish clothing group Heartland, the parent company of Bestseller, will own a 75% stake in the…