A model walks on an in-house catwalk at the ASOS headquarters in London April 1, 2014. REUTERS/Suzanne Plunkett
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Europe's retail crisis is spreading from bricks-and-mortar stores to e-commerce as Asos PLC plunged the most in 4 1/2 years after warning that Christmas shopping got off to a disastrous start.Asos fell as much as 43 percent Monday in London, wiping more than 1.4 billion pounds ($1.8 billion) off the market value. The news dragged down other online retailers like Boohoo Group PLC and Zalando SE, as well as store operators like Marks & Spencer Group PLC and Next PLC.Asos cut its full-year sales-growth guidance on a "significant deterioration" in November.Retailers such as Debenhams PLC and Marks & Spencer, which are in the middle of turnaround plans, may be particularly vulnerable.Asos cut its outlook for full-year growth to about 15 percent, from a previous range of 20 percent to 25 percent.Zalando, BoohooZalando plunged as much as 18 percent while Boohoo fell as much as 20 percent before paring losses.Asos operates in more than 230 countries and territories, with about 37 percent of sales in its domestic market.
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