Is Ebay Looking For An ASOS Bargain?
- 28 August 2014
THINGS are looking up for ASOS after a difficult
start to the year, amid industry whispers that eBay could be set to
buy the British fashion e-tailer. Shares in the company - which
dropped more than 60 per cent this year - are up seven per cent
this week, The Independent reports, as rumours
emerged yesterday that American buyers were circling.
ASOS issued a profit warning in March and another in June,
wiping 40 per cent off the company's share price. It blamed a
strong pound and heavy discounting for the impact on profits, the
Financial Times reported, although a major warehouse fire in June did little to increase market
confidence.
Ebay has been working to reposition itself as a standalone
retailer in recent months, and the acquisition of one of Britain's
most recognisable online stores would further assert the
rebranding.
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