UK's ASOS sees profit at bottom end of guidance as turnaround stutters

FILE PHOTO: A keyboard and a shopping cart are seen in front of a displayed ASOS logo in this illustration. REUTERS/Dado Ruvic/Illustration

LONDON: British online fashion retailer ASOS reported a 15% fall in fourth-quarter sales and forecast earnings around the bottom of its guided range but said it was still making progress with its turnaround plan.

The group led by CEO José Antonio Ramos Calamonte announced an overhaul of its business model last October after the economic downturn and a string of operational problems hammered its profits and shares.