ASOS Shares Jump After Atlanta Fulfillment Center Disposal
By Joe Stonor
ASOS shares jumped after the online fashion retailer said it sold a mothballed Atlanta warehouse for about $63 million, extending the group's efforts to buttress its balance sheet.
Shares rose 6.9% to 308 pence in late-morning European trading, lifting ASOS to a five-month high. The stock is up 8.6% so far this year.
ASOS said it sold the abandoned fulfillment center to a DHL Group subsidiary for 48 million pounds, equivalent to $63.6 million. It added that the company will book a one-off pretax profit of 78 million pounds in its fiscal 2026 accounts related to the reorganization of its property liabilities.
The disposal is part of a broader effort by the retailer to strengthen its balance sheet, including the successful refinancing of 237.5 million pounds in November 2025, and the 66 million pound disposal of a U.K. fulfillment center in May.
The steps put ASOS in a good position ahead of the maturation of a tranche of convertible bonds worth 253 million pounds in September 2028, Berenberg analysts wrote in a note to clients.
Write to Joe Stonor at josephmichael.stonor@wsj.com
(END) Dow Jones Newswires
July 01, 2026 06:21 ET (10:21 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Dividend Stocks
12 Best Blue-Chip Stocks to Buy for the Long Term
United States