ASOS Reports 68 Percent Profit Decline, Cites "Operational Issues" as Cause

According to Business of Fashion, ASOS reported a hefty 68 percent decline in full year profit, as detailed in its recent full-year financial report that ended August 31.The British retailer states that the root of the decline stems from its expanded warehouse presence, which includes a $40 million USD US-based warehouse addition that opened in Georgia in 2017, as well as an increased operational presence in Germany.ASOS reported a pretax profit of £33.1 million GBP (approximately $42.2 million...