ASOS plc has reported final results for the 52 weeks to 30 August 2026. Gross merchandise value (GMV) was £2,349.0m, down 5 per cent year on year. Adjusted group revenue was £2,240.3m, down 9 per cent.
Adjusted EBITDA rose 29 per cent to £170.3m. Adjusted gross margin rose by 340 basis points to 50.5 per cent. Statutory profit before tax was £24.4m, against a £281.6m loss a year earlier. Net debt fell to £109.3m from £184.7m.
Return to quarterly GMV growth
ASOS said GMV returned to year-on-year growth in the fourth quarter for the first time since FY22. Trends improved through the year, and the second-half decline narrowed to 1 per cent. The company pointed to:
- stronger product relevance
- more flexible fulfilment
- higher marketing spend.
Partner Fulfils and ASOS Fulfilment Services together accounted for 21 per cent of Partner Brand GMV, up more than 10 percentage points year on year. Adjusted revenue fell partly because those models record commission rather than the full selling price.
Outlook and cyber update
For FY27, ASOS expects low-single-digit GMV growth and adjusted EBITDA of £180m to £200m. Trading in the first eight weeks of FY27 was broadly flat year on year, with temporary disruption after the October cyber incident. ASOS said an investigation found that some basic customer data was accessed, but payment information and account passwords were not compromised.
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