Retailer’s share price has crashed amid post-Covid high street recovery and competition from Shein and others

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Asos has been accused of rewarding its chief executive for “spectacular failure” after handing him a £300,000 pay rise even as the online fast-fashion retailer cut UK jobs and recorded widening losses.

José Antonio Ramos Calamonte’s total pay rose from £814,000 to £1.17m in 2024, a 44% increase, according to its annual report, published on Monday.