ASOS Issues Profit Warning Due To Warehousing Issues. Shares Cheap
We expect to reduce our fair value estimate for ASOS by a mid- to high-single-digit percentage after the company announced a profit warning. We consider warehouse operational disruptions affecting revenue and costs to be temporary and still consider shares to be attractive after recent month declines. Full-year revenue growth is now expected by the management to be in line with current trends (11% constant currency and 12% reported increase over 10 months to June 30 with 15% previous guidance). ...ASOS and its subsidiaries (together, the Group) is a global fashion retailer. The Group sells products across the world and has websites targeting the U.K., U.S., Australia, France, Germany, Spain, Italy and Russia. Co. creates and curates fashion, face + body products for every fashion-loving 20-something.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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