Overview
- A deal announced Monday between M&S and ASOS covers the 437,000 sq ft Lichfield fulfilment centre, slated to open in 2027 and support about 600 jobs.
- ASOS said it expects at least £66 million in proceeds, about £6 million a year in cost savings, and an estimated £85 million one-off profit when the sale completes by the end of August 2026.
- M&S said the site will add 24/7 capacity that speeds picking and packing and lets customers order later in the day with more sizes in stock.
- ASOS mothballed the Lichfield site in 2023 to cut costs and said warehouses in Barnsley and Berlin provide enough room for future growth.
- Shares moved after the news, with ASOS up as much as 12.5% and M&S down about 9.8% in early trading, according to CityAM.