ASOS PLC

ASC: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 4,387.00	Yhlgg	Srlltggwh

Asos Earnings: Revenue and Profits Decline as Investments Scaled Back

Jelena Sokolova

May 10, 2023

We expect to lower our fair value estimate for no-moat Asos by a low-teens percentage as the company reported disappointing revenue and profits for the first half of the fiscal year ending in August 2023. We still view shares as cheap at current levels.

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