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ASOS shares plunge as supply chain strains darken sales and profit outlook

October 11, 2021

Via: Sky News

Shares plunged as much as 15% in early trading as the group pencilled in slowing sales growth ahead, after benefiting from a surge in demand during lockdowns.

It is the latest fashion retailer to warn of supply chain strains and higher shipping costs taking their toll on trading, following Next and Boohoo.

Meanwhile, it is targeting more rapid global expansion abroad over the coming years, with the aim of lifting annual revenues to £7bn.

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