ASOS PLC (LSE:ASC) has confirmed its net debt position has been slashed after a refinancing following the fashion group's sale of majority stakes in Topshop and Topman. Net debt has been wound down by £150 million on the proceeds from the brands' sales and the refinancing, ASOS said Wednesday, from £348.8 million as of March.
Equities analysts at Deutsche Bank see a long-term benefit to ASOS PLC (LSE:ASC)'s decision to divest the majority of its Topshop and Topman ownership to the Danish holding company of Bestseller. ASOS made the announcement, alongside a £250 million bond refinancing to help strengthen the balance sheet, on Thursday.
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Specialty Retail Industry | Consumer Cyclical Sector | Mr. Jose Antonio Ramos Calamonte CEO | OTC PINK Exchange | GB0030927254 ISIN |
GB Country | 3,027 Employees | - Last Dividend | - Last Split | - IPO Date |
ASOS Plc establishes itself as a prominent online fashion retailer, with a wide-reaching international presence including the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, Denmark, and Poland. Since its incorporation in 2000, with headquarters stationed in London, the United Kingdom, ASOS has devoted itself to serving a diverse and global customer base. Beyond its primary focus on retailing both womenswear and menswear, the company engages in additional business activities such as marketing staff employment and payment processing services. It also plays a significant role in financial maneuvers by functioning as a vehicle for the issue of convertible bonds, illustrating its versatile operations within the fashion and e-commerce industry.
ASOS Plc’s expansive catalog showcases a variety of in-house brands alongside a selection of third-party brands, catering to a wide range of customer preferences and fashion trends. Below is an insight into their main offerings:
Furthermore, ASOS Plc backs its comprehensive product range with services such as marketing staff employment and payment processing, illustrating a multifaceted approach to its business operations and customer service.