ASOS Completes Atlanta Warehouse Sale, Shares Jump 9%
ASOS Plc announced that it has signed and completed the disposal of its Atlanta fulfilment centre, assigning the site to a global consumer brand and selling associated automation assets to a separate buyer. The net sale proceeds amount to approximately £48 million, and the company expects annual cash cost savings of about £6 million at current exchange rates. The transaction also produced a one‑off pre‑tax profit of roughly £78 million after adjustments to related property liabilities, which will be reflected in ASOS’s financial results for fiscal year 2026.
The Atlanta disposal follows earlier balance‑sheet strengthening actions, including the repayment of its 2026 convertible bonds in April 2026 and the disposal of the Lichfield fulfilment centre that generated £67 million in net proceeds. As a result of the Atlanta sale, ASOS’s cash position increased to £209.5 million as of 1 March. Chief Executive Officer Jose Antonio Ramos said the disposal demonstrates the group’s commitment to strengthening the balance sheet, simplifying the business, and maintaining strict capital allocation discipline. He noted that the Atlanta site had been non‑operational in prior periods and that its sale marks the completion of non‑core asset sale efforts.
Following the announcement, ASOS shares rose by over 8% intra‑day, with market data showing a 9% jump, reflecting investor approval of the debt‑reduction drive and asset‑sale strategy.