ASOS returned to growth in gross merchandise value in its final quarter, although the measure remained 5 per cent lower across the full year.
The online fashion retailer reported low-single-digit fourth-quarter GMV growth for the year ended 30 August 2026. The UK and Germany grew in the second half, with the US returning to growth in the fourth quarter.
ASOS expects adjusted EBITDA in the upper half of its £150m–£180m guidance range, up more than 25 per cent year on year. That includes around £3.9m of warehouse-related provision releases.
Adjusted gross margin exceeded 50 per cent, supported by sourcing improvements, stronger full-price sales and expanded flexible fulfilment.
Net debt fell to around £110m from £184.7m. Warehouse disposals generated approximately £116m, while free cash flow remained slightly negative.
Full results are due on 5 November.
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