ASOS boss exits as fast fashion retailer warns on profit, Retail News, ET Retail

LONDON: ASOS, the British on the internet vogue retailer, parted means with CEO Nick Beighton on Monday as it warned that supply chain pressures and individuals returning to pre-pandemic conduct could minimize 2022 gain by more than 40%.

Shares in ASOS, which sells speedy-vogue aimed at 20-somethings, were down twelve.2% at 1014 GMT, extending a decrease this calendar year to 49%.

Beighton experienced been with ASOS for twelve several years, such as 6 as CEO, and the company explained his rapid departure would permit it to come across new leadership to speed up international development and produce seven billion lbs ($nine.5 billion) of annual earnings inside of 4 several years.

ASOS experienced carried out perfectly by way of the pandemic but warned in July that development experienced slowed.

Chairman Adam Crozier explained Beighton would not commit to continue to be at ASOS to see by way of at minimum half

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