By Joe Stonor
ASOS shares jumped after the online fashion retailer said it sold a mothballed Atlanta warehouse for about $63 million, extending the group's efforts to buttress its balance sheet.
Shares rose 6.9% to 308 pence in late-morning European trading, lifting ASOS to a five-month high. The stock is up 8.6% so far this year.
ASOS said it sold the abandoned fulfillment center to a DHL Group subsidiary for 48 million pounds, equivalent to $63.6 million. It added that the company will book a one-off pretax profit of 78 million pounds in its fiscal 2026 accounts related to the reorganization of its property liabilities.
The disposal is part of a broader effort by the retailer to strengthen its balance sheet, including the successful refinancing of 237.5 million pounds in November 2025, and the 66 million pound disposal of a U.K. fulfillment center in May.
The steps put ASOS in a good position ahead of the maturation of a tranche of convertible bonds worth 253 million pounds in September 2028, Berenberg analysts wrote in a note to clients.
Write to Joe Stonor at josephmichael.stonor@wsj.com