Asos sales double as the website defies downturn
ONLINE fashion store Asos yesterday said it had defied the retail recession, announcing that sales doubled last year thanks to the trend towards shopping for clothes online.
Chief executive Nick Robertson – who owns 14 per cent of the business – hailed the “phenomenal” results, but warned that the group is anticipating more conservative growth in years to come.
In the year to the end of March, the group reported a 104 per cent leap in revenues to £165.4m and said full-year pre-tax profits were £14.1m – a 93 per cent rise in-line with market expectations.
But the firm said that, since April, sales have been up just 52 per cent compared to last year. “Anyone who is talking about ‘green shoots’ in the economy needs to go to Specsavers,” Robertson said.