Asos has announced a £200 million one-off impairment charge after deciding to mothball its major US warehouse near Atlanta, Georgia, in a move designed to cut costs and boost profitability.
Closing the Union City site is expected to increase Asos's pre-tax earnings by £10 million to £20 million from 2026, although it will also result in a £190 million impairment this financial year.
Asos acknowledged that neither American demand nor stock levels could justify keeping a large-scale warehouse, amid intensified competition from fast-fashion challengers like Shein and Temu.
This move follows a series of 'medicinal' actions prescribed by chief executive José Antonio Ramos Calamonte to stem losses and reset the retailer's business model.
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