19th Jul 2019 12:07
(Alliance News) - ASOS PLC said Chief Executive Officer Nick Beighton bought shares worth GBP49,867 in the online clothing retailer on Friday, a day after shares sank in the wake of a profit warning.
Beighton - CEO since 2015 - acquired 2,369 shares in the AIM-listed firm at 2,105 pence each. Shares in ASOS were 1.5% higher at 2,138.00 pence in London on Friday, after having plummeted 20% on Thursday.
After the transaction, Beighton holds a total of 169,903 shares in ASOS.
On Thursday, ASOS warned it now expected pretax profit for the year ending August between GBP30.0 million and GBP35.0 million. This is sharply lower than the GBP102.00 million reported the year prior.
The clothing retailer - whose GBP1.8 billion market capitalisation would make it a FTSE 250 constituent if traded on the main market - made the announcement after an overhaul to warehouse operations in Berlin in Germany and Atlanta in the US hampered sales growth.
The purchase by Beighton also follows hot on the heels of ASOS Chair Adam Crozier in buying 4,200 shares worth a total of GBP100,124 on Thursday.
Related Shares:
ASOS