Asos Results Presentation Deck
© 2023 asos
01. Renewed commercial model
Structured approach to reducing stock with stock turn returning to
pre-pandemic levels by FY24
Stock Balance & Stock Turnover¹
Stock turnover Stock balance (£'m)
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FY20
FY21
Pandemic, Supply chain disruption and old commercial model
Historical lack of discipline on clearance
Volatile demand, global supply chain issues
Stock build ahead of expected sales growth
FY22
¹Stock balance as per reported financial statements. Stock turnover based on stock balance and forward-looking COGS
All sources: ASOS internal operational records
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FY23
FY24
Not to scale, illustrative purposes only
Driving Change
Stock write-off
New commercial
model
Reduced option width
for SS23
New Model
Restored width and
optimised volume for AW23
and beyond
Stock turn restored by FY24
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