British online fashion retailer ASOS posted a 14 percent fall in annual profit after the strength of sterling hit sales growth.» Read More
LONDON, Oct 21- British online fashion retailer ASOS believes it can reach its target of 2.5 billion pounds in annual sales by 2020, with price cuts helping to reignite growth after three profit warnings this year. Shares in ASOS, which had lost two-thirds of their value this year following a procession of bad news, jumped as much as 19 percent on Tuesday on signs...
LONDON, Oct 21- British online fashion retailer ASOS posted a 14 percent fall in annual profit, partly due to the strength of sterling hitting sales growth overseas. During the year ASOS also had to cope with the need for major investment in its warehousing, a fire at its Barnsley, northern England, warehouse in June and the launch of its new business in China.
Oct 14- U.S. warehouse club operator Costco Wholesale Corp said it would open an online store in China using Alibaba Group Holding Ltd's fast-growing Tmall online marketplace, entering the country's booming ecommerce market to combat slowing sales at home. Costco said the online store would provide customers in mainland China with both branded products,...
Asos has resumed trading after it was forced to suspend orders following a suspected arson attack at its main warehouse.
European shares closed higher, as investors digested the raft of stimulus measures announced by the ECB.
European stocks closed higher on Wednesday, after positive U.S. jobs data helped to boost global sentiment further.
European retailers are flocking to list in 2014, but traditional high-street chains have been replaced by the online, discount and convenience players that are shaking up shopping.
Retail stocks in the U.K. have seen a spike in short-selling since the start of the year, according to financial research firm Markit.
Asos will look to other global economies after launching a Chinese-language website, Nick Robertson, CEO of the online retailer told CNBC.
European shares pared gains but closed higher on Thursday, a day after the Federal Reserve surprised markets by opting to maintain its $85 billion-per-month asset purchases.
European shares closed lower on Wednesday, mirroring losses in U.S. markets.
U.S. stock index futures were higher Wednesday, looking to bounce back after major averages slumped 1 percent in the previous session, as Europe markets gained and Asia markets trimmed earlier losses.
European shares pared their earlier gains to close narrowly mixed Wednesday as investors watched to see if Russia will extend or increase its loan agreement for struggling Cyprus.
European shares closed higher on Thursday afternoon after stronger-than-expected U.S. jobs data.
Hedge funds are betting that a prolonged consumer squeeze and a further shift to online shopping could spell trouble for Britain's retail chains.
European shares closed higher on Tuesday after a survey showed a sharp improvement in German investor and analyst sentiment.