Asos returned to a pre-tax profit of £24.4m in the year ending 30 August 2026, marking its first quarterly sales growth since 2022. The retailer swung from a £281.6m loss the previous year, driven partly by gains from selling its Atlanta and Lichfield fulfilment centres.
On an adjusted basis, pre-tax losses narrowed to £46.4m from £98.2m. Adjusted EBITDA rose 29 per cent to £170.3m, reaching the upper end of its guidance range. However, group revenue fell nine per cent to £2.25bn, while gross merchandise value declined five per cent to £2.35bn.
Despite the annual decline, Asos reported improving trading throughout the period. The fourth quarter saw a four per cent GMV growth, the first quarterly increase in over four years. Its UK business also returned to growth in the second half, with GMV rising two per cent. Womenswear sales climbed eight per cent during the same period.
