Asos sells Atlanta fulfilment centre for 48 million pounds

Fashion e-tail giant Asos has completed the disposal of its Atlanta fulfilment centre, in a transaction that forms part of its ongoing programme to sell non-core assets and simplify its logistics footprint.

The lease for the US site has been assigned to a global consumer brand, while the associated automation assets have been acquired by a member of the DHL Group. The deal generates net proceeds of around 48 million pounds and is expected to deliver annual cash savings of approximately six million pounds.

Asos said the asset was non-operational and had already been fully written down in prior periods. The sale follows a series of recent balance sheet actions, including refinancing activity and earlier warehouse disposals, as the group continues to streamline its operations.

The company said the transaction supports its 'Efficient Operating Model' strategy, focused on capital discipline and improved cash generation.

In a statement, Asos chief executive officer, Jose Antonio Ramos, said: “The disposal of Atlanta is another clear demonstration of us delivering on our commitments - strengthening the balance sheet, simplifying the business and maintaining strict discipline in how we allocate capital.

"Since closing the Atlanta fulfilment centre, we have successfully transitioned to our new US operating model, giving customers access to a broader product assortment from our global inventory.”