LONDON (Reuters) – British online fashion retailer ASOS reported an 87% fall in first half profit, reflecting supply chain constraints impacting stock availability and cost inflation.
The group, which in October warned on full year profit and parted ways with its CEO, said on Tuesday it made adjusted profit before tax of 14.8 million pounds ($19.3 million) in the six months to Feb. 28, down from 112.9 million pounds in the previous corresponding period.
However, apart from the removal of Russia’s contribution to the second half following last month’s decision to suspend sales, ASOS’s full year guidance remained unchanged.
($1 = 0.7680 pounds)
(Reporting by James Davey, editing by Ed Osmond)