Asos sinks to loss and reveals £14m expected hit from quitting Russia

Asos said sales have increased but it struggled with supply chain problems (Asos/PA)

Online fashion giant Asos has said it expects to take a £14 million hit from its decision to stop selling clothes in Russia, in response to the country’s invasion of Ukraine.

The prediction comes as the retailer said it sank to a pre-tax loss for the six months to the end of February, spending heavily on an overhaul to win over more customers longer term.