UPDATE 1-UK's ASOS pursued by German tax authorities for unpaid customs duties, FT reports

(Adds details and background from paragraph 2 onwards) Oct 17 (Reuters) – German tax authorities are pursuing ASOS for unpaid customs duties in a legal dispute that is adding to the struggles of the British fast-fashion retailer, the Financial Times reported on Friday, citing sources. The dispute relates to customs declarations on ASOS shipments crossing the German border over several years, FT said, citing people familiar with the matter. ASOS did not immediately respond to a Reuters request for comment. German authorities notified ASOS of the alleged shortfall earlier this year, the paper said. The initial assessment put the bill in the tens of millions of euros, but the retailer expected that figure to be reduced after submitting additional information, FT said. ASOS had warned last month that their annual revenue would fall short of market expectations due to weak consumer demand, with profit expected to land at the lower end of its forecast range. It has been working to revive its fast-fashion appeal among its core base of shoppers in their 20s, while cutting costs amid intensifying competition from Chinese rivals and the impact of U.S. trade tariffs. (Reporting by Disha Mishra in Bengaluru; Editing by Janane Venkatraman and Nivedita Bhattacharjee)

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