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ASOS Isn't Having a Very Good Year, and Here's Why

Image via ASOS
Image via ASOS

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According to a report by Retail Gazette, ASOS's shares are down by 68% this year. The steep decline in share price is most likely due to a warehouse fire back in June that cost the company $30 million in sales. On top of that, ASOS co-founder Nick Robertson is in the middle of an expensive divorce that may force him to sell his stake in the company.

Personal matters aside, ASOS isn't winning any friends on the retail end, either. According to the report, brands are unhappy with ASOS's constant cycle of sales and promotions which puts their products continually on discount while they sell the full-priced goods in their own stores. ASOS may even be in talks with eBay over a possible sale of the company due to the year's setbacks.
· ASOS experience troublesome year [Retail Gazette]
· Will eBay Buy ASOS? [Racked]
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