ASOS shoppers are about to see more discounts on virtual shelves – including winter items just in time for the colder season.
The retailer has said that its clearance sale is going to last a lot longer, as it tries to reduce the amount of stock it has.
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That’s despite a warning today that sales are down after wet weather over the summer months.
Asos has reduced its stock by about 30% to become a “leaner and more resilient business“, the company’s chief executive Jose Antonio Ramos Calamonte said.
The boss said that this higher level of discounting is set to continue through the rest of the year.
Asos is looking to clear last year’s autumn and winter stock – which is good news for shoppers.
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Shops usually discount leftover products at the end of each season.
That means now you’d usually be seeing money off items like swimwear and summer dresses.
Instead the level of stock Asos still has means that it will be selling off the older season ranges for less.
The website currently has over 58,000 products in its clearance section.
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Shoppers can find winter coats and hats as well as knitwear on sale with more than 60% off.
It includes Asos’ own brands as well as others like Topshop and River Island.
Designer gear like Moschino and Polo Ralph Lauren can also be picked up in the sale for less.
For example, Pimke camel wool coat is now £27 instead of £66. A Bershka puffer jacket is slashed by 64% from £59.99 to £21.50.
You can buy a Kangol faux fur beanie for £17 instead of £42 – a 59% saving on the full price – and a Carhartt stripey knit jumper for £58.50 instead of £130, which is 55% off.
But it’s worth checking the sale pages of asos.com carefully as some discounts are far smaller at around 10% or 20%.
It’s also worth remembering that it’s only a bargain if you had planned to buy it in the first place.
Always shop around to get the best price too in case you can find it cheaper, so you know you’re getting the best price too.
You can use sites like Google Shopping, PriceSpy and Idealo.
Earlier this year, Asos launched a new sale website where everything is £5.
Shoppers could get clothes for as much as 90% off at asossamplesale.com.
But it was only for a limited time and the site is currently sold out.
Asos could launch a huge sale again though, as a message on the site asks shoppers to share their email address so they “never miss a drop again”.
The fashion firm said sales tumbled 16% in its final quarter, with poor weather compounding woes amid a worsening UK clothing market.
It said that full-year underlying earnings were now expected around the bottom end of its £40million to £60million guidance.
But the group said that despite the summer sales blow, it expects to be profitable again in its fourth quarter, with turnaround efforts having driven around £300million of profit improvement and cost savings – in line with targets.
Ramos Calamonte said: “We have reduced our stock balance by around 30%, significantly improved the core profitability of the business and generated cash against a very challenging market backdrop.”
Asos recently cheered returning to profitability in its third quarter thanks to recovery efforts.
But its sales have suffered as consumer spending took a knock, with customer demand waning in the face of rocketing household bills, while the firm has experienced supply disruption and surging cost pressures over the past year.
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Asos also said it has been losing customers amid the overhaul, with active customers down around 9% year-on-year at 23.3million – a fall of about 3% since the third quarter.
The group has suffered heavy share prices falls over the past year as trading woes have taken their toll, with the firm demoted from the FTSE 250 Index in June.
