Asos swings to £93.5m operating profit as cyber incident trims trading by 2% to 4%. Asos reported a £93.5m operating profit for FY26 against a £212.3m loss a year earlier, and put the cyber incident hit to trading at 2% to 4% of GMV. Asos reported on 5 November an operating profit of £93.5m for the year to 30 August 2026, against a loss of £212.3m a year earlier, and put the cyber incident hit at c.2% to 4% of GMV. The company said the incident of 6 October has cost c.2% to 4% of group gross merchandise value (GMV, the value of goods sold before costs) since that date. The company said the FY26 results show a pre-tax profit of £24.4m, compared with a loss of £281.6m in FY25. The incident led Asos to pause certain marketing and customer relationship management activity as a precaution. It returned to planned activity within two days, but the pause caused short-term disruption to trading, mostly in the UK. Adjusted gross margin rose 340bps (basis points, hundredths of a percentage point) to 50.5%, from 47.1% in FY25. GMV fell 5% to £2,349.0m, from £2,456.3m. Adjusted group revenue fell 9% to £2,240.3m, from £2,464.8m. Adjusted EBITDA (earnings before interest, tax, depreciation and amortisation, excluding one-off items) was £170.3m, against £131.6m a year earlier. On the adjusted measure, Asos still made a loss before tax of £46.4m, narrower than the £98.2m loss in FY25. The gap to the reported £24.4m profit reflects adjusting items of £70.8m. Net debt fell to £109.3m from £184.7m. Free cash flow was an outflow of £16.4m, against an inflow of £14.1m in FY25. Asos said GMV returned to year-on-year growth in the fourth quarter for the first time since FY22. Asos said an external-expert investigation into the incident has concluded. It found that an unauthorised party accessed some basic customer data. On the day of the incident, Asos said an unauthorised customer notification had been sent at around 10am. At that point it said it was too early to quantify any effect on trading. The company said it did not believe payment-card information or account passwords had been affected. Names and contact details may have been accessed. Asos said trading in the first eight weeks of FY27 was broadly flat year on year, notwithstanding the temporary impact of the incident. It said the group remained resilient and that it was confident the impact would be temporary. The company said its active database grew month on month in September and October. At the end of October it had 16.5m active customers. For FY27, Asos guided to adjusted EBITDA of £180m to £200m and capital expenditure of c.4% of revenue. That compares with FY26 adjusted EBITDA of £170.3m and capex of 3.4% of revenue. Asos said it continues to assess opportunities to optimise its capital structure after the fall in net debt. It intends to hold a Capital Markets Event during FY27. A year earlier, in its FY25 results, Asos reported that active customers had fallen 8% to 6.5m, though it said retention was improving.

ASOS returns to Q4 GMV growth as adjusted EBITDA rises 29 per cent. 5th November 2026 ASOS plc has reported final results for the 52 weeks to 30 August 2026. Gross merchandise value (GMV) was £2,349.0m, down 5 per cent year on year. Adjusted group revenue was £2,240.3m, down 9 per cent. Adjusted EBITDA rose 29 per cent to £170.3m. Adjusted gross margin rose by 340 basis points to 50.5 per cent. Statutory profit before tax was £24.4m, against a £281.6m loss a year earlier. Net debt fell to £109.3m from £184.7m. Return to quarterly GMV growth ASOS said GMV returned to year-on-year growth in the fourth quarter for the first time since FY22. Trends improved through the year, and the second-half decline narrowed to 1 per cent. The company pointed to: * stronger product relevance * more flexible fulfilment * higher marketing spend. Partner Fulfils and ASOS Fulfilment Services together accounted for 21 per cent of Partner Brand GMV, up more than 10 percentage points year on year. Adjusted revenue fell partly because those models record commission rather than the full selling price. Outlook and cyber update For FY27, ASOS expects low-single-digit GMV growth and adjusted EBITDA of £180m to £200m. Trading in the first eight weeks of FY27 was broadly flat year on year, with temporary disruption after the October cyber incident. ASOS said an investigation found that some basic customer data was accessed, but payment information and account passwords were not compromised.

Anders Povlsen is Scotland's green billionaire. He's also the biggest shareholder in a fast fashion brand 'harming' the environment. A new report claims Asos, part owned by Scotland's richest man, is still harming the environment and not adequately supporting its workers. Asos says it is committed to addressing concerns about the fashion industry. Helping you make sense of what really matters From fact checks to investigations and explainers, The Ferret helps cut through noise with journalism that is careful, sourced, and worth your time. Asos, whose largest shareholder is Scotland's richest man and the country's largest landowner, is facing fresh criticism over accusations about its commitment to workers' rights and sustainability, according to a new report. Billionaire Dane, Anders Povlsen, is rewilding his Scottish estates from Glenfeshie in the Cairngorms to Ben Loyal in Sutherland, aiming to restore "our parts of the Highlands to their former magnificent natural state". Essential to this project, he claims, is creating work for the locals who live there. But concerns about Asos' ethical and sustainability credentials have been raised by a report published on fast fashion last month by online magazine Ethical Consumer. It gave Asos a score of 30 out of a 100 for sustainability and just 20 out of 100 for its record on workers rights. Both Asos and Povlsen's other companies say they are committed to addressing concerns about the impacts of the fashion industry on people and the planet and are working to meet strict targets to drive improvements. However critics are calling for greater scrutiny of Povlsen, claiming the "unsustainability of his global business interests stands in sharp relief to his apparent Scottish environmentalism". Over the last 20 years Povlsen has bought up about one per cent of Scotland - 220,000 acres of land - which he owns through conservation and tourism company, WildLand. His Scottish portfolio includes 13 estates as well as the historic Jenners building on Edinburgh's Princes Street. In September this year he added Kinross House Estate by Loch Leven to his massive portfolio. WildLand is owned by Danish parent company Heartland - funded by another fast fashion brand, Bestseller. Heartland holds the Asos stake. The latest Ethical Consumer report examined 51 fast fashion brands including Asos. The leading alternative consumer magazine was launched in 1989 and produces regular shopping guides. Its latest report claims the fashion industry - which prioritises cheap clothing produced as quickly as possible - "drives worker exploitation". The highest scoring company, White Stuff, was awarded 49 out of 100 in total and the two lowest, Amazon Essentials Clothing and Zara, each scored only 11 out of 100. It gave Asos a score of 33 out of 100 overall but less for certain categories including workers rights, for performing "poorly". Ethical Consumer's researchers found "no adequate standards on wages" and a lack of transparency around working conditions in Asos' factories. It highlighted significant criticism over conditions in its supply chain, quoting a January 2026 report by labour rights campaign group Advocating Rights in South Asia, which found poor conditions in textile recycling factories in India and Pakistan. It also referenced a December 2025 report by Climate Rights International which linked Asos amongst other brands to garment factories in Karachi, Pakistan, where workers described the difficulty of working in extreme heat alongside inadequate workplace protections and alleged "wider labour rights abuses". "If he's looking for positive environmental impact, Anders Povlsen could use his significant shareholding in the company to put an end to some of its most harmful practices". - Shanta Bhavnani, Ethical Consumer Ethical Consumer awarded a slightly higher score for sustainability claiming Asos was "relatively transparent" about what its clothes are made from. However, while 40 percent of its materials are "greener" cotton, researchers said only 10 percent of its fabric was made with materials considered to be the most sustainable, like recycled natural fibres, organic cotton, hemp and linen. The report also raised concerns about Asos' tax practices noting it had subsidiaries in both Jersey and the Netherlands, which Ethical Consumer considers to be tax havens. Povlsen promotes his environmental credentials in his Scottish projects and is funding a "200 year vision" for an ecologically restored Highlands and rewilding projects on the 13 estates he now owns. Shanta Bhavnani, senior researcher for Ethical Consumer, said: "As a fast fashion retailer, Asos's business model depends on a high turnover of synthetic clothes that are likely to be scarcely worn and quickly thrown away. This model is extremely damaging to the environment. "In our recent rating of the company we found lots of room for improvement. If he's looking for positive environmental impact, Anders Povlsen could use his significant shareholding in the company to put an end to some of its most harmful practices." Josh Doble, head of policy and advocacy at Community Land Scotland, said the research raised "uncomfortable questions" for both Asos and Anders Povlsen as its biggest shareholder and Scotland's largest private landowner. He added: "His estates are focused on 'rewilding' and much is made of his corporation, WildLand's, nature restoration and eco-tourism efforts. The unsustainability of his global business interests stands in sharp relief to his apparent Scottish environmentalism. "Community Land Scotland has heard repeated concerns from local communities about WildLand's monopoly power. As such, we would welcome much greater scrutiny of Povlsen's wider business interests given how proceeds from these unsustainable and exploitative activities are being used to further entrench power and land inequality in Scotland." A spokesperson for Wildland said: "The Ferret is aware that a representative of Community Land Scotland was recently critical of WildLand but this is a personal opinion, from an individual who is ideologically opposed to all forms of land ownership, whatever that landowner might be seeking to achieve. "WildLand is proud of the work it is doing to restore parts of the Highlands to their former magnificent natural state." The company was formed in 2012 with the aim of supporting the Scottish ecosystem. Its conservation work includes deer management by reducing numbers on its estates in order to support the replanting of Caledonian pines. The firm also supports satellite tagging of birds like hen harriers, goshawks and golden eagles to help them monitor and conserve local populations. Regarding projects to reintroduce species such as beavers, lynx, bears, cranes and storks, WildLand says it will only get involved if "it is appropriate" and can be balanced against the needs of rural communities. Its most recently launched exclusive holiday home - Hope lodge in Sutherland, which has luxury rooms, gym, treatment room, "adventure centre" and a concierge to arrange activities - has featured in high end magazines including Wallpaper and Vogue. Rooms start at £2,550 per night. As part of its corporate responsibility work Asos says it aims to to reduce its impact on climate change and improve conditions for workers. It acknowledges "the urgency of addressing climate change and its impacts on nature and people" and recognises its responsibility to "respect and protect the human rights of all workers in its supply chain and in the communities supporting it". It also says it aims to build "circular design" into its work, an increasingly common concept in the fast fashion industry which means using more recycled materials and ensuring its clothes can be repaired or reused. Targets towards a net zero supply chain, the more responsible use of raw materials and a human rights strategy are detailed on its website. Asos was approached for comment but did not respond. Be part of something bigger Supporting The Ferret is not just about access. It's a way to back journalism that's accountable, impactful, and independent.