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Fashion Outlet ASOS Predicting...

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Fashion Outlet ASOS Predicting Profit Drop In 2022

Jonathan Byrne
Jonathan Byrne

12:54 11 Oct 2021


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ASOS has become a popular online fashion site over the past few years.

Shopping site ASOS are predicting their profits will take a big hit in 2022.

They expect profits to fall by almost 40 percent due to a number of reasons.

One of those is higher freight and labour costs as the UK struggles with Brexit changes.

They say they will likely endure a delay in the supply chain in 2022 as well.

Earlier this year, shares in ASOS fell by over 10 per cent.

Market expert Neil Wilson says the company have problems maintaining sales growth.

"Covid, maybe a bit to blame," Wilson said. "A lot of sales are driven by these event led fashion sales."

Wilson cited the absence of music festivals as a big loss for companies like ASOS.

ASOS was founded in 2000, with over 850 brands being sold on their website.


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