ASOS PLC

OTC Pink - Current Information:ASOMYUnited States

Apr 17, 2024

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• DJ ASOS's Lack of Bad News Brings Optimism -- Market Talk, from 8:44AM ET on Wednesday Apr 17, 2024 by Dow Jones

  8:44AM ET on Wednesday Apr 17, 2024 by Dow Jones
  Companies Mentioned: ASOMY
  
  1242 GMT - ASOS shares are up, helped by the absence of any further bad news in the company's 1H earnings, as expectations were already low and shares were at their lowest level since 2009, AJ Bell investment director Russ Mould says. The fashion retailer backed its sales and cash flow guidance, bringing optimism for fiscal 2025 as prospects for the second half improve, Mould writes in a note. "The best news may come from the balance sheet, not the profit and loss account. CEO Jose Calamonte can point to great progress in reducing inventory and the balance of unsold goods has already fallen to his target of GBP600 million, some six months ahead of schedule, Mould notes. Shares are up 2.8%, but down 53% on a 12-month basis. (michael.susin@wsj.com)
  

• DJ ASOS's Margin Set to Improve After Stock Clearance -- Market Talk, from 2:55AM ET on Wednesday Apr 17, 2024 by Dow Jones

  2:55AM ET on Wednesday Apr 17, 2024 by Dow Jones
  Companies Mentioned: ASOMY
  
  0655 GMT - ASOS's 1H performance shows that the online fashion retailer is making significant progress with its turnaround strategy and is getting set for growth in the 4Q, Berenberg analysts say in a note. The group's inventory reduction target is ahead of plans and strategic advances are boosting the organization's operational agility and potentially leading to higher profitability levels, they say. Looking ahead, Berenberg continues to see fiscal 2025 adjusted Ebitda margin of around 6% as the clearance of aged stock is expected to deliver significantly improved margins, the analysts add. "We continue to be encouraged by signs of strategic momentum," they say. Berenberg has a buy rating on the stock and a target price of 490 pence. (michael.susin@wsj.com)
  

• DJ ASOS Backs Targets After Losses Narrow, Names New CFO, from 2:51AM ET on Wednesday Apr 17, 2024 by Dow Jones

  2:51AM ET on Wednesday Apr 17, 2024 by Dow Jones
  Companies Mentioned: ASOMY
  
  By Michael Susin
  
  ASOS backed its guidance for the fiscal year after losses narrowed in the first half, when core profitability began to improve under a new turnaround strategy, and named its new finance chief.