MONDAY, 13 JUL 2020

 

CONNECT

Facebook Linked In Twitter
Compliance_29/01-24/09_728x90px
GloriaJeans_266x90px
IMH LTD

Emily Yiolitis: Resumption Of Cyprus Talks Require Termination Of Turkish Provocations

Nicos Christodoulides Attends Crucial EU Foreign Affairs Council

IMH LTD

INTERNATIONAL

brought to you by CIPA

ASOS Profits Plunge in 'Disappointing' Year

ASOS Profits Plunge in 'Disappointing' Year

Profits at Asos have plunged after warehouse problems led to what the online fashion retailer said was a "disappointing" year, the BBC reports.

Over the last year, Asos has installed more robots in its European warehouses and expanded its facilities in the US.

But the speed of growth hit profits, which dropped almost 70% falling to £33.1m for the year. "With the benefit of hindsight, we were not adequately prepared for the additional complexities," Asos said.

The company said it "lost focus" on key areas like "product, presentation and customer engagement".

"The transformation has been huge and we underestimated the impacts of large scale operational change being executed on two continents simultaneously," it said in a statement.

Despite the drop in profits, sales rose 13% in the year to the end of August. Animal print, broderie and satin styles had been particularly popular, the firm said.

MORE ON INTERNATIONAL

Tesla Shareholders Urged To Vote Elon Musk Out Over His $55bn Executive Bonus

Tesla investors are being urged to vote to remove Elon Musk, the electric vehicle ...

Google To Delete Its Saved User Records After 18 Months

Google will no longer save a complete record of every search made by new users, the ...

EU Students To Be Charged More By UK Universities From September 2021

Students from the European Union wishing to study in Britain from the 2021 academic year ...

FROM AROUND GOLDNEWS

   

Increase in Education Staff Under Government Employment For June 2020

According to a press release by Cystat, in June 2020, total government employment increased by 15 persons in comparison to the corresponding month of 2019 and ...
   

Cyprus Marine Club Announces New Board Of Directors

The Annual General Meeting (AGM) was opened by Secretary General, Julia Paczkowska and then followed by Capt. Koch, Cyprus Marine Club ...
   

Nicos Christodoulides Attends Crucial EU Foreign Affairs Council

Cyprus’ Minister of Foreign Affairs Nikos Christodoulides will be in Brussels today to participate in the EU Foreign Affairs Council, which for the first ...
   

Wizz Air Abu Dhabi Announces New Route To Larnaca

Wizz Air Abu Dhabi, the newest national airline of the United Arab Emirates, announced today a highly anticipated route from Abu Dhabi to Larnaca starting on ...
   

Emily Yiolitis: Resumption Of Cyprus Talks Require Termination Of Turkish Provocations

Any prospects for the resumption of UN-led talks for a settlement to the Cyprus problem would require the termination of the Turkish provocative violations of ...
   

CSR During a Pandemic

Katerina Biloruska, Chairwoman of the non-profit Parimatch Foundation, explains how it has helped in the fight against COVID-19, whilst staying true to its ...
   

John Lewis to Close Eight Stores Permanently

John Lewis has announced it is permanently closing eight of its stores, putting 1,300 workers at risk, the BBC reports. The retailer said it had to ...
   

House Prices up by 1.1% in Cyprus in Q1 2020

House prices, as measured by the House Price Index, rose by 5.0% in the euro area in the first quarter of 2020 compared with the same quarter of the previous ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

CFO_AWARDS_15/9
Gold_Issue_300x250px

IMH LTD