ASOS , Britain's one-time poster child for the shift to online fashion retailing, swung to a first-half loss, hurt by a squeeze on household budgets and elevated product returns but said it was confident of a return to profit in the second half.
LONDON, May 10 - ASOS
But supply chain issues, competition from rivals like Shein and a cost-of-living crisis have weighed on their business models. Shares in ASOS have halved over the last year, with some analysts fearing it may need to raise further equity.But for the full year it forecast a free cash outflow of around 100 million pounds, around the bottom end of previous guidance.
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