LIFE

isn’t getting any easier for Asos. At least not according to analysts at Credit Suisse.

‘We believe the operating initiatives highlighted at the full-year results are insufficient to drive a material change to Asos’s challenges,’ said analysts at the bank. Ouch.

‘Inventory levels are far too high,’ they added, striking their rating on the stock from ‘outperform’ to ‘neutral’ and the target price to £6.60 from £12.50. Ouch again.

On Friday, Asos revealed its interim chief financial officer Katy Mecklenburgh is leaving.

The shares fell 2 per cent on Friday, closing at £6.31.