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Asos resumes trading again after fire | Asos resumes trading again after fire |
(about 2 hours later) | |
Online fashion firm Asos has started taking orders again after it was forced to suspend trading following a fire at its main warehouse in Barnsley. | Online fashion firm Asos has started taking orders again after it was forced to suspend trading following a fire at its main warehouse in Barnsley. |
In a statement, Asos said the fire had affected about 20% of the stock held at the site. | In a statement, Asos said the fire had affected about 20% of the stock held at the site. |
The Barnsley warehouse is the firm's major global distribution centre. Asos said about 70% of its total stock of £159m was held at the site. | The Barnsley warehouse is the firm's major global distribution centre. Asos said about 70% of its total stock of £159m was held at the site. |
The fire is being treated as arson by police. | The fire is being treated as arson by police. |
Asos said none of the technology, automation or structure of the building had been affected by the fire. | Asos said none of the technology, automation or structure of the building had been affected by the fire. |
The company temporarily closed its website on Friday after the fire, and reopened it at 2am on Monday morning. | The company temporarily closed its website on Friday after the fire, and reopened it at 2am on Monday morning. |
"We are fully insured for loss of stock and business interruption," the firm said in a statement. | "We are fully insured for loss of stock and business interruption," the firm said in a statement. |
Asos' shares fell almost 1% in early trading. | |
Analysts said Asos' management already had experience in dealing with such issues, noting its Hemel Hempstead warehouse was damaged by explosions at the Buncefield fuel depot in 2005. | |
"Roll forward, Asos are now bigger, uglier, more global and one would imagine less agile perhaps in their response," said analysts at Jefferies. | |
Profit shock | |
The fire at the Asos distribution centre broke out at about 22:00 BST on Friday. | The fire at the Asos distribution centre broke out at about 22:00 BST on Friday. |
South Yorkshire Police said the incident was being treated as deliberate following initial investigations with the fire service. | South Yorkshire Police said the incident was being treated as deliberate following initial investigations with the fire service. |
More than 60 firefighters tackled the blaze and about 500 people were evacuated from the five-storey building. | More than 60 firefighters tackled the blaze and about 500 people were evacuated from the five-storey building. |
The fire came just two weeks after Asos warned in early June that its full year profits would miss forecasts. | |
At the time, Asos blamed the strength of the pound, which hurt overseas sales and forced it to launch a series of promotions. |
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