December 17, 2018 / 7:20 AM / 2 months ago

ASOS downgrades annual forecasts after tough November

LONDON, Dec 17 (Reuters) - British online fashion retailer ASOS lowered its annual margin and sales growth forecasts on Monday after November trade fell short of expectations.

It lowered its earnings before interest and taxes (EBIT) margin target for the year to next August to about 2 percent from 4 percent.

It lowered its sales growth forecast to around 15 percent from 20 to 25 percent citing unseasonably warm weather and heavy discounting across the sector.

Reporting by Sarah Young; editing by Jason Neely

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