UK’s ASOS exploring sale of Topshop brand – Sky News

(Reuters) -British online fashion retailer ASOS Plc is exploring a sale of its Topshop brand, Sky News reported on Saturday.

ASOS bought the Topshop brand in 2021 from the administrators of Philip Green’s collapsed Arcadia group, along with its Topman, Miss Selfridge and HIIT brands for 265 million pounds ($321 million).

ASOS when approached by Reuters declined to comment.

ASOS on Tuesday said it was postponing the planned publication of its annual results until Nov. 1, saying its auditor PwC needed more time.

The group boomed during the pandemic but overhauled its business model last October after an economic downturn and operational problems hurt its profits and its shares.

($1 = 0.8244 pounds)

(Reporting by Nilutpal Timsina in Bengaluru; editing by Jason Neely)