ASOS, a UK-based fashion retailer, reported an 18% drop in first-half sales, attributing the decline to a combination of having to heavily discount last season's unsold stock and a shift in consumer preference back to high street shopping. The company has been attempting to overhaul its business model in response to these challenges. Additionally, ASOS, along with Boohoo and George, announced new sustainability commitments to provide 'clear and accurate' eco-claims after a crackdown by regulatory authorities following a CMA probe.
H&M, the world's second-biggest listed fashion retailer, postponed the start of some Spring/Summer campaigns to adjust to shipping delays caused by the Red Sea crisis, CEO Daniel Erver said on March 27. https://t.co/yGmS0lJBCI
#FastFashion #retailer H&M delayed some campaigns due to #RedSeaCrisis https://t.co/0CacDB4rRo
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Fast-fashion retailer H&M delayed some campaigns due to Red Sea crisis https://t.co/zHY0tQgJyR https://t.co/bwMEfa85Hj
Asos, Boohoo and George promise 'clear and accurate' eco-claims https://t.co/vdPrEJdRyj
⚠️ FAST-FASHION RETAILER H&M DELAYED SOME CAMPAIGNS DUE TO RED SEA CRISIS Full Story → https://t.co/8MLPZYmcEq https://t.co/Iernk6f2ye
Asos, Boohoo and George pledge clarity on green credentials after CMA probe https://t.co/JJDQV2I5S4
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🇬🇧 Asos sales plummet as retailer slashes stock in business overhaul https://t.co/dqfFYRSAJS
Online shoppers have fallen back in love with the high street causing ASOS sales to tumble 18% despite overhaul efforts. https://t.co/SLX0GX1R5P
Asos suffers a double-digit decline in sales as the fashion retailer was forced to heavily discount clothes to clear a build up of last season’s unsold stock https://t.co/mCUrJh1lMF
UK's ASOS posts 18% drop in first-half sales https://t.co/3fOstAWU0D https://t.co/e3ClEe7XnQ