Disruptive technology

Fashion players’ forecast update: ‘The Times They Are A-Changin'


The cost-of-living crisis made for a tough reporting cycle for both ASOS (ASC) and Boohoo Group (BOO), and we therefore reduce expectations materially for FY23, FY24 and FY25. ASC renews its focus with a new CEO; we expect some market share gains but factor in a £100-130m inventory impairment for its change in model to focus on the ‘fresh fish’ of fashion. BOO has less low hanging fruit to grab; we increase our admin costs to reflect H123’s higher costs, including the higher interest expense.

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Nov 4 2022, 07:00 GMT