UK's ASOS to sell Lichfield centre to Marks & Spencer for $90 million
11/05/2026 07:59
May 11 (Reuters) - ASOS ASOS.L said on Monday it will sell its Lichfield fulfilment centre to rival Marks & Spencer MKS.L for 66 million pounds ($89.7 million), as the British retailer looks to simplify operations and dispose of non-core assets. Here are some details: ASOS expects the sale of the facility, which is used by retailers to store products and process orders, to generate a one-off pre-tax profit of 85 million pounds and annual cash cost savings of 6 million pounds. ASOS has been focused on reducing costs and trimming operations as it grapples with weaker consumer spending and inflationary pressures. The disposal is aimed to address the company's excess capacity, the retailer said, adding that its fulfilment centres in Barnsley and Berlin give it enough capacity for future growth. ASOS expects the disposal to be completed during the second half of fiscal year 2026. The company said its Atlanta fulfilment centre will be its only non-core asset. ($1 = 0.7358 pounds) (Reporting by Simone Lobo in Bengaluru; Editing by Sherry Jacob-Phillips) ((Simone.Lobo@thomsonreuters.com, +919920570373))