Asos Shares Slide 3.5% After Massive Warehouse Fire in Barnsley

Asos shares slid by 3.5% in the early hours on the first day of trading after a major fire broke out at its main warehouse in Barnsley, Yorkshire, where it houses 70% of its stock.

The Asos stock price to 2,662.00p despite the online fashion retailer confirming that it has started to take customer orders again and that it is fully insured for loss of stock and business interruption.

Asos said in a statement: "None of the technology, automation or structure of the building has been affected by the fire. Our initial estimate is that approximately 20% of the total stock at the site has been compromised by fire damage and the sprinkler systems.

The fire broke out at 2150 BST on 20 June.

Asos added: "The clean-up process commenced on Saturday morning and progressed quickly. Consequently at 2am this morning we recommenced taking orders. We are fully insured for loss of stock and business interruption.

"We have been advised by the South Yorkshire Police that after initial investigations, they are treating the incident as deliberate and have commenced a criminal enquiry. We are cooperating fully with this investigation."

Asos is a major online fashion retailer which sells more than 75,000 branded and own-brand products.