ASOS has forecast fiscal 2026 profit to be largely below analysts' expectations today, as weak consumer demand weighs on the British fast-fashion retailer amid its efforts to check costs and revive the brand's appeal.
The firm is undergoing turnaround efforts to bolster income through cost-saving measures, such as inventory reduction and restructuring, as it also works to revive its fast-fashion appeal among its core base of shoppers in their 20s.
The company said it expects adjusted core profit for fiscal 2026 of between £150m and £180m.
However, at the midpoint of £165m, that is below analysts' average expectation of £173m, according to a company-compiled poll.
In the UK, the group's biggest market, many Britons are delaying non-essential purchases amid sticky inflation and a high cost of living, waiting for Black Friday deals and the budget, which is adding to the pressure.
Adjusted core profit stood at £131.6m for the full year to August 31, missing estimates of £138m.
