Asos sells Lichfield fulfilment site to M&S for GBP66 million

Mon, 11th May 2026 08:51

(Alliance News) - Asos PLC on Monday said it has sold a fulfilment centre in the UK to Marks & Spencer Group PLC, netting GBP66 million.

Asos shares jumped 8.1% to 235.00 pence each in London on Monday morning.

The fashion retailer said the sale of the Lichfield fulfilment centre will save it GBP6 million per year.

"Over the last three years, improvements in stock turn and the scaling of flexible fulfilment, including the launch of Asos Fulfilment Services in H2 FY25, have resulted in structurally lower capacity requirements. The disposal of the Lichfield fulfilment centre reflects Asos's continued progress against its efficient operating model strategic pillar with a focus on simplifying operations and follows the earlier decision to mothball the site to address excess capacity. The group's fulfilment centres in Barnsley and Berlin provide sufficient capacity to support future growth," Asos said.

"Following the disposal of the Lichfield fulfilment centre, the group has one further non-core asset that has been fully written down, its Atlanta fulfilment centre. The board considers the Transaction to be in the best interests of the company and its shareholders."

Asos said the deal is expected to result in a one-off pretax profit of GBP85 million, "after adjustments to associated property liabilities".

The firm added: "The disposal of Lichfield is another important step forward in the transformation of the financial position of Asos, following refinancing in November 2025 and the repayment of the 2026 convertible bonds last month. The transaction crystallises significant value from a non-core asset. The net proceeds will be used to maintain financial flexibility to execute the group's strategy."

M&S shares were down 1.3% to 327.38p each.

By Eric Cunha, Alliance News news editor

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