ASOS said on Monday it will sell its Lichfield fulfilment center to rival Marks & Spencer for 66 million pounds ($89.7 million), as the British retailer looks to simplify operations and dispose of non-core assets.
Here are some details:
* ASOS expects the sale of the facility, which is used by retailers to store products and process orders, to generate a one-off pre-tax profit of 85 million pounds and annual cash cost savings of 6 million pounds.
* ASOS has been focused on reducing costs and trimming operations as it grapples with weaker consumer spending and inflationary pressures.
* The disposal is aimed to address the company's excess capacity, the retailer said, adding that its fulfilment centers in Barnsley and Berlin give it enough capacity for future growth.
* ASOS expects the disposal to be completed during the second half of fiscal year 2026.
* The company said its Atlanta fulfilment center will be its only non-core asset.
