ASOS looking swish with 19pc increase in quarterly sales
ASOS, the online clothing retailer, reported a fashionable 19 per cent increase in sales to £290.1m, up from £244m last year, for the three-month period to 28 February.
The better-than-expected performance was a welcome relief for the firm after a difficult 2014 forced it to issue a string of profit warnings as shares plummeted and a warehouse fire led to £30m in estimated losses.
Nick Robertson, chief executive of ASOS, noted strong growth was continuing in the UK with sales up 30 per cent during the period to £126.6m, from £97.7m last year.
“We have also seen encouraging momentum in our international markets during the quarter at 12 per cent following the successful roll out of our zonal pricing capability and our planned price investments.
ASOS sells more than 75,000 branded and own-brand products to nine million customers worldwide through its website and app.
“Our investments in our warehouse and IT platforms are on track. We expect profit before tax for the full year to be in line with market expectations,” said Robertson.