Frasers increases stake in Asos to 25.13% as H1 FY25 profit outlook improves

From Yahoo Finance: 2025-03-24 10:57:00

British retailer Frasers Group increases stake in Asos to 25.13%, solidifying second-largest shareholder position behind Bestseller. Bestseller, led by Danish billionaire Povlsen, also raises its holding to 28%. Asos presents positive H1 FY25 forecast with sales growth despite previous profitability update in November 2024.

Asos projects revenue in line with estimates and growth in adjusted EBITDA for H1 FY25, with a consensus forecast of -13% in total sales growth, £34m in adjusted EBITDA, and a 2.6% adjusted EBITDA margin. The company highlights success in full-price sales of its own brand, driven by the “test and react” model.

Asos, set to release H1 FY25 financial results on 24 April, boasts 20 million active customers across 200 markets. In February, the online retailer announced organisational changes to enhance customer engagement and accelerate growth, aiming to strengthen its global fashion e-commerce leadership position. Plans also include revamping its US distribution network for improved service.

Frasers Group’s increased stake in Asos reflects optimism for H1 FY25 performance. Bestseller also boosts ownership in the online retailer. Asos anticipates meeting revenue estimates and growth in adjusted EBITDA. The company’s success in full-price sales of its own brand contributes to a positive outlook for the fiscal year.

Read more: Frasers raises Asos stake to 25.13% as H1 FY25 profit outlook improves