Asos saw losses narrow in its latest full year results, as its revenues took a hit.
The fashion giant’s operating loss dropped to £212.3m for the 52 weeks to 31 August 2025, from £331.9m the year before, as it pushed ahead with its strategic review.
Asos’ pre-tax loss plunged to £281.6m, from a loss of £379.3m the year prior.
However, EBITDA rose 64% to £131.6m, which it credited to its continued focus on “on higher quality sales against a soft consumer backdrop”.
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Adjusted group sales at the brand fell 14% year-on-year to £2.46m, while group revenue declined 15% to £2.48m.
Looking ahead to FY26, Asos forecast additional adjusted EBITDA growth to £150m to £180m.
The retailer said that its new commercial model was allowing gross margin expansion and noted that its operational efficiencies were leading to cost savings and “creaing investment capacity”.
Asos CEO José Antonio Ramos Calamonte said: “Asos has always stood for innovation, energy and fashion that excites.
“When I became CEO at the end of FY22, it was clear we needed to reset the business so we could deliver that promise for our customers again.
“Three years later, the turnaround is well progressed: we’ve rebuilt our foundations, sharpened our focus and we’re ready to reclaim our place as the most exciting destination for fashion-loving customers.”
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