ASOS shares fell by almost 40% due to worsening forecasts

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Weak financial performance in November was the reason for the decline in the annual sales growth forecast and the profit margin of the British online retailer of fashionable clothes, Reuters reports. Sales growth and profit margins were worse than market expectations. The deterioration of the forecast affected the dynamics of the company's shares. On Monday, at 1:50 pm Moscow time, their price dropped sharply - by 39.3%. The intensification of the crisis in the UK retail sector has also affected the shares of other British retailers. Mark&Spencer shares lost 3.2% of their value. Next shares fell 3.7%, Boohoo - 10.5%.

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