ASOS delays autumn orders amid inflation concerns

ASOS is delaying of its some autumn orders amid concerns that customers will cut back on purchasing new outfits in response to the soaring cost of living crisis.

According to suppliers who spoke to The Mail on Sunday, the online fashion retailer has completely cancelled some stock over recent weeks, all at short notice.

Insiders said that cancellations were "not running at above normal levels at this time" although there had been "a few more postponements".

However, ASOS said last night that its supply chain operation "is functioning well against the backdrop of unprecedented global disruption in our markets".

A spokesman added: "We outlined a new strategy in November last year, which included moves to buy on shorter lead times and tighten our inventory. Against this backdrop and in line with normal industry practice at this time of year, we have postponed a limited number of orders. We value our supplier relationships and will continue to work closely with them."

The retailer issued a profit warning in June, citing changing consumer behaviour and the increase of returns amid inflation. ASOS COO Matt Dunn said it is "too early to tell for how long the current pattern of customer behaviour will continue" but the company is taking steps to achieve its long term targets.

TheIndustry.fashion recently interviewed ASOS Founder Nick Robertson in a live event as part of the Bold Moves Academy. The video is available to watch now.