ASOS shares plunge as supply chain strains darken sales and profit outlook

ASOS shares plunge as supply chain strains darken sales and profit outlook

Online fashion retailer ASOS has warned profits could fall by as much as 40% as it counts the cost of supply chain strains and Brexit duties - and said it was parting company with its boss.

Shares plunged as much as 15% in early trading as the group pencilled in slowing sales growth ahead, after benefiting from a surge in demand during lockdowns.

It is the latest fashion retailer to warn of supply chain strains and higher shipping costs taking their toll on trading.