Asos will attempt to reassure shareholders this morning amid fears that “short-sellers” could try to exploit the closure of the online retailer’s website after a fire at its main warehouse.
Analysts expect the company to update investors on the fire and disruption before trading in the shares begins at 8am. The company is expected to say that the stock loss is less than feared and that it expects a quick return to trading.
“The City will be sympathetic, but unless Asos can issue a reassuring [statement] at 7am the shorts will target it,” said Nick Bubb, a retail analyst and consultant at Zeus Capital.
Asos closed its website on Friday after the fire at its main warehouse in Barnsley, South Yorkshire. According to the South