UK Asos 2 billion dollars after fire resumes Operation Market value

Absrtact: Britain's largest fashion electric dealer Asos in Barnsley Warehouse suffered a major fire, causing the site to suspend operations. The company's profits are expected to fall for the second time in 3 months, despite a return to normal, but affected by a slowdown in sales growth. Reporter learned that the British

The UK's largest fashion dealer, Asos, is in Barnsley's warehouse after a major fire, causing the site to suspend operations. The company's profits are expected to fall for the second time in 3 months, despite a return to normal, but affected by a slowdown in sales growth.

Asos, Britain's largest online fashion retailer, was hit by a fire in the northern England warehouse in the Friday, forcing its companies to disrupt online sales and share prices, the reporter learned.

It is reported that the fire occurred in the evening of Friday, until the completion of the clean-up process until 23rd, then the site is officially operational. For Asos, this year is bad, two times in a row in 3 months to reduce performance expectations, data from June 5 showed that Asos's market value evaporated 2 billion dollars.

Analyst Clive Black said: "The fire is likely to make shareholders suspicious, investors hope this is a temporary business interruption." It is understood that 20% of the stock in the Barnsley warehouse was burnt down in the blaze. Asos said Barnsley's inventory accounted for 70% of the Asos inventory, totaling about 531 million pounds. Police believe the blaze was arson and a criminal investigation has been launched.

It was the second time in less than 10 years that Asos had to suspend operations due to a fire, and in December 2005, the oil depot in southeastern England exploded, causing Asos to suspend orders and move warehouses from the site to Barnsley in 2011. Analyst Jamie Merriman said Asos quickly recovered from the 2005 fire, and we hope it will happen again.

"We have suspended the ASOS site because of a fire in the Barnsley Distribution center in the early hours of Saturday," Asos said. Thankfully no one was hurt and we expect to get back to normal in the next day or so. The fire was thought to have spread from the second floor to the third and four floors. 10 fire trucks, three of them from the West Yorkshire Fire Brigade, were rescued overnight.

Barnsley Warehouse is the company's major global distribution center. It is dispersed in the United States, China and Australia, but most orders are performed through Barnsley warehouses. In a statement, the company indicated that there were no new orders and that the existing orders had not been shipped and that the delivery time would be postponed. It is understood that the warehouse contains more than 100,000 cartons of packaging products.

Warehouse is the place where the material is concentrated and stored, once the economic loss of fire is huge, the society has great influence and serious consequences. High temperature drying in summer is also a high season of warehouse fire, so it is of great significance to do well in the warehouse fire safety work, to ensure the safety of storage materials and to reduce the fire hazard.