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ASOS Predicts Profits Will Greatly Decrease In 2022

File image: ASOS logo via @Asos/Twitter

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:

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