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British online fashion retailer ASOS warned on profit for the third time in eight months on Thursday, blaming operational issues as it overhauls its warehouses in the United States and Europe.
ASOS said pretax profit for full-year 2019 was now expected to be 30-35 million pounds after booking 47 million pounds of transition costs and 3.5 million pounds of restructuring costs.
According to Refinitiv data, analysts had been expecting pre-tax profit of 55 million pounds. It reported profit of 102 million pounds in 2018.
The group said its total sales rose 12% in the four months to June 30. For the balance of the year it forecast sales broadly in line with its year to date performance.
Prices delayed by at least 15 minutes.
(Reporting by James Davey; editing by Kate Holton)
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