Asos is reportedly consulting on around 100 redundancies at its head office in London.
The majority of roles at risk are based in the marketing department, The Sunday Times reported.
Group revenues at Asos were up 14% to £1.3bn for the six months to 28 February, but its pre-tax profit fell 29.9% to £4m following heavy investment in technology platforms and logistics.
Asos said the “disappointing” figures were reflective of a period of heavy investment, and reported a capital expenditure of £103.2m.
In April, Asos updated its returns policy to try and crack down on the number of “serial returners” using the website.
Asos declined to comment on the proposed redundancies.