Asos, the trailblazer of British online fast-fashion that was once a stock market darling, moved into the slow lane yesterday amid rumours of job cuts at its London head office.
The retailer is preparing for about 100 redundancies after a botched warehouse opening in America and a period of slowing sales, according to The Sunday Times. It had issued a profit warning in December, reported a near-90 per cent drop in interim pre-tax profits in March and was overtaken by Boohoo, its younger, lower-end rival, in terms of market valuation in June.
