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ASOS 'superb' show boosts sales by 108%
Rosamund Urwin19 Jan 2009
Internet clothing retailer ASOS is still defying the economic downturn as its young, fashion-savvy customers continue to splash their cash.
Sales at the group, which targets 16- to 34-year-olds, jumped by 108% in the 42 weeks to 16 January. Despite the rest of the sector struggling, sales growth accelerated in recent weeks, with total sales rising 118% in the last two months of that period.
"People were expecting a good performance, and we've delivered a superb one," chief executive Nick Robertson said today. He added that, despite raising the spend on special offers and free delivery, ASOS is still on track to deliver pre-tax profits for the year to 31 March in line with expectations at about £13.8 million.
ASOS launched in 2000, selling cheap copies of clothes worn by celebrities. The group has since expanded, and now boasts High Street brands as well as designer labels.
Reader views (1)
This is the type of story that gets no headlines because the press are hooked on doom and gloom at the moment and pressure groups within the retail sector seem only to be interested in the performance of High Street stores. Amazon also had a record Christmas and the supermarkets did well. Could it be that customers are still purchasing but through channels which get little exposure ?
- Doug Watt, london, 19/01/2009 17:13
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