Asos has announced a significant reduction in losses for the 2025 financial year, driven by its multi-year strategic overhaul. However, revenues dropped sharply as consumer demand remained soft across key markets.
For the 52 weeks ending 31 August 2025, the retailer’s operating loss fell to US $268.5 million, down from US $419.5 million the previous year. Pre-tax losses also narrowed to US $356 million, compared with US $479 million a year earlier.
EBITDA surged 64% to US $166.4 million, supported by Asos’ focus on higher-quality sales and tighter commercial discipline. Even so, adjusted group sales declined 14% year-on-year, while total revenue fell 15% to US $3.20 billion.
Looking ahead to FY ’26, Asos forecasts adjusted EBITDA in the range of US $189 million to US $227 million. The company said its new commercial model is bolstering gross margin, while operational efficiencies are reducing costs and creating “investment capacity” for future growth.
The retailer recently appointed Sean Trend as its new Chief Financial Officer.
CEO José Antonio Ramos Calamonte emphasised that when he took over in late FY ’22, it became clear that the business required a major reset to deliver on its brand promise:
“Asos has always stood for innovation, energy and fashion that excites. Our turnaround is now well progressed. We’ve rebuilt our foundations, sharpened our focus, and we’re ready to reclaim our place as the most exciting destination for fashion-loving customers.”
Despite a challenging market landscape, Asos says it is moving steadily toward sustainable profitability.
