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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  ASOS Plc    ASC   GB0030927254

ASOS PLC

(ASC)
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Delayed Quote. Delayed London Stock Exchange - 10/14 11:35:26 am
2635 GBp   +2.33%
09/16H&M to test selling external brands in strategy shift
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H&M to test selling external brands in strategy shift

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09/16/2019 | 10:15am EDT

STOCKHOLM (Reuters) - Sweden's H&M said on Monday its budget fashion chain H&M, which accounts for the bulk of group sales, would test selling external brands and products.

Some of the group's newer, smaller brands such as & Other Stories and Arket, already market a selection of external brands in addition to their own products.

A move in the same direction for the 72-year-old core brand would be a significant strategy shift and a possible step towards competing directly with multi-brand online retailers such as Germany's Zalando and Britain's ASOS.

A company spokesman said complementing the H&M brand with external brands would hopefully attract new shoppers, declining to give more details about the trial.

The world's second-biggest fashion retailer after Zara owner Inidtex has seen profits drop for three straight years, due to slowing sales at its core brand's physical stores.

H&M earlier on Monday reported an 8% rise in third-quarter sales, measured in local currencies. Investor concerns that it is not yet back on track however weighed on its shares.

Its external brand trial was first reported by Swedish online news site breakit.se which referred to a job ad on H&M's website.

"The H&M brand will now develop our offer of external brands. The purpose is to complement our offer with external brands to add excitement and energy and we see great opportunities for growth and to find new customers," H&M said.

"We have set a first vision on what we would like to do – now we will set the plan on how to test and scale this for H&M," it said in the job ad.

Other high-street clothing retailers that have started to sell other brands include Britain's Next plc which has evolved its website over the past decade from a single brand site to an aggregator of clothing, footwear and homewares from different providers.

(Reporting by Anna Ringstrom, additional reporting by Sonya Dowsett; Ediitng by Angus MacSwan and Emelia Sithole-Matarise)

By Anna Ringstrom

Stocks mentioned in the article
ChangeLast1st jan.
ASOS PLC 2.33% 2635 Delayed Quote.13.09%
HENNES & MAURITZ 2.00% 203.95 Delayed Quote.60.53%
INDUSTRIA DE DISEÑO TEXTIL, S.A. -0.56% 28.41 End-of-day quote.27.83%
NEXT 1.95% 6584 Delayed Quote.61.81%
ZALANDO -0.29% 41.52 Delayed Quote.85.56%
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Financials (GBP)
Sales 2019 -
EBIT 2019 -
Net income 2019 -
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020 -
Capi. / Sales2019 -
Capi. / Sales2020 -
Capitalization 2 209 M
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Technical analysis trends ASOS PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 29
Average target price 2 891,23  GBp
Last Close Price 26,35  GBp
Spread / Highest target 15 839%
Spread / Average Target 10 872%
Spread / Lowest Target 5 479%
EPS Revisions
Managers
NameTitle
Nicholas Timothy Beighton Chief Executive Officer & Executive Director
Adam Alexander Crozier Chairman
Mark Holland Chief Operating Officer
Mathew James Dunn Chief Financial Officer
Clifford Cohen Chief Information Officer
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