ASOS has warned on profit after its quarterly sales were hit by customers returning more items during the cost of living crisis.
In a trading update, the retailer said it had now revised its adjusted pre-tax profit range to between £20 million and £60 million.
In the three months to 31 May, revenue came in at £983.4 million compared to £987.9 million in the same period in the prior year.
While total sales in the UK and US rose by 4% and 15% respectively at constant currency, sales in the EU and rest of the world fell by a respective 2% and 8% (excluding Russia).
The company said gross sales accelerated, but net sales were impacted by a significant increase in returns rates in the UK and Europe towards the end of the period.
