Expected to decrease by 40%
Online retailer ASOS is predicting profits will take a big hit in 2022.
The fashion company expects sales to decrease by approximately 40%.
The company believes the decreases are due to higher freight and labour costs, as well as delays in the supply chain.
Earlier this morning, shares fell by over 10% with the news of potential decrease in sales.
Neil Wilson is a markets expert, and says ASOS has had problems maintaining sales growth: