ASOS PLC

ASC: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 1,151.00	Lbsdq	Jlbgspch

Asos Earnings: Revenue Weak, but Cost Improvement and Stock Clearance on Track; Maintain Fair Value

Jelena Sokolova

Apr 17, 2024

We are maintaining our fair value estimate for no-moat Asos as the company reported a decline in sales in the first half of the year but some progress on clearing out stock, improving speed to market and cost control, which should be beneficial for growth going forward. Trading at 13 times forward earnings, the shares look attractive.

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