ASOS points to stronger margins as quarterly merchandise sales return to growth
ASOS ($ASC-LSE) expects its annual gross margin to exceed 50%, above the previous 48–50% range, and adjusted EBITDA to finish above the midpoint of its £150–180 million guidance. Fourth-quarter gross merchandise value returned to low-single-digit growth, although the full-year measure remained around 5% lower. The update points to improved trading quality rather than a complete recovery in annual sales activity. The retailer said its active-customer base grew during the quarter for the first tim
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