ASOS (#ASC) – Sean Glithero joins company, to be interim CFO “once Katy Mecklenburgh leaves in May”
- 2023-02-10 07:43:31
We had news this morning that CPI inflation went through 10% in the UK – bad news, as this surely means further increases to interest rates over here. That won’t help businesses such as online clothing retailer, AIM-listed ASOS (ASC) and I sense that the company’s difficulties don’t end there, for this morning the CFO/COO Mr Mat Dunn is to leave at the end of October. But the statement is, I fear, highly disingenuous.
I may have told you the story before that I thought I was so smart when I doubled my money in the then As Seen On Screen (and now ASOS) (ASC) shares the thick end of a couple of decades ago…but I sold way too early. However it is better to make money than not…as any ASOS investors over the last five years know, with the stock down a mere 80% since 2017. And as any trendy 15-30 year olds will tell you, there have been plenty of fashion brand changes over recent years way beyond whether clothes should be bought online or not. And on this front, onto today’s noteworthy two updates…