ASOS warns on outlook as consumers feel inflation pain

LONDON (Reuters) - British online fashion retailer ASOS reported an 89% drop in 2021-22 profit and forecast a first half loss in its new financial year, blaming significant volatility in the macroeconomic environment.

The group, whose shares have fallen 80% this year, made adjusted profit before tax of 22 million pounds ($24.9 million)in the year to August 31 2022, in line with guidance that was lowered last month and down from the pandemic boosted 193.6 million pounds made in 2020-21.

($1 = 0.8851 pounds)

(Reporting by James Davey; editing by Sarah Young)