Asos warned the washout summer has hit sales and profits.
The online fashion firm said the wet weather in July and August dragged sales down 15pc in the final quarter of its financial year.
As a result, it said it now expects profits for the 12 months to 3 September to have come in at the lower end of the £40m to £60m targeted.
Asos also revealed it has lost around 2.3m customers in the past year – down 9pc to 23.3m – but insisted this was the result of its renewed focus on boosting profits rather than sales.
The company suggested many of the shoppers who left represented ‘our least profitable orders and customers’ – pointing out that profits per order are up 35pc and the number of costly returns has fallen.
Asos has warned the washout summer has hit sales and profits (file image)
Asos is in the throes of a turnaround plan under chief executive José Antonio Ramos Calamonte, who took over last year and soon admitted that the business model was ‘inefficient’ and the brand could ‘achieve far more’.
While Asos has struggled since the end of Covid lockdowns, sending its shares tumbling, High Street rivals including Marks & Spencer and Next have recovered strongly.
Calamonte said Asos was a ‘leaner and more resilient business’ a year on from the launch of his revival plan.
Joshua Warner, an analyst at City Index, said Asos ‘has kept on the right track’.
