UK retailer ASOS up after logistics partnership with GXO extended
Today 08:58
BUZZ-UK retailer ASOS up after logistics partnership with GXO extended
** Shares of British online retailer ASOS ASOS.L up 5.2% at 459p, among top percentage gainers on FTSE mid-caps .FTMC
** ASOS and contract logistics provider GXO GXO.N extend strategic partnership through 2034
** Renewed agreement covers warehouse fulfilment and transportation services to help improve delivery speed and efficiencies led by technology
** The retailer is speeding up a turnaround focusing on boosting margins, cost cuts, and tighter stock control
** YTD, ASOS had risen ~54% as of the stock's last close
(Reporting by Tuhina in Bengaluru)