Asos debt falls as sells Atlanta fulfilment centre for GBP48 million
Asos PLC on Wednesday said it has sold its fulfilment centre in Atlanta, Georgia for around £48 million, completing its non-core asset disposal programme.
The London-based online fashion retailer said the US sale to part of the Deutsche Post AG / DHL Group will result in annual cash cost savings of around £6 million.
There is also a one-off pretax profit of around £78 million at current exchange rates after adjustments to associated property liabilities which will be recognised as an adjusting item in the results for financial 2026, the firm said.
Asos's financial year ends at the start of September.
In response, shares in Asos jumped 7.8% to 310.34 pence each in London on Wednesday.
Asos said the sale builds on a series of actions to improve its financial position, including a debt refinancing last November, the repayment of the 2026 convertible bonds in April, and the disposal of the Lichfield fulfilment centre in England in May.
Proceeds will add to the cash position of £209.5 million as at March 1 with pro forma net debt excluding lease liabilities of £180 million compared with £295 million as at March 1.
The Atlanta site is non-operational and was fully written down in prior periods, Asos noted.
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