Fashion for Online Shopping Sees ASOS Double Its Sales

Western Mail (Cardiff, Wales), December 6, 2007 | Go to article overview

Fashion for Online Shopping Sees ASOS Double Its Sales


Byline: By Holly Williams

Online fashion store ASOS yesterday fuelled hopes of a positive Christmas for "e-tailers" after revealing autumn sales doubled. The firm, which offers clothing similar to those worn by celebrities, said sales soared 101% in the nine weeks to December 2.

ASOS - As Seen On Screen - also reported interim pre-tax profits up by pounds 2.1m to pounds 2.4m in the six months to the end of September.

The rise in the popularity of online shopping is predicted to see sales increase by 42% this Christmas, according to figures from the Interactive Media in Retail Group.

ASOS, which now has 1.6 million registered shoppers, said it was too early to say if sales growth would continue at the same rate over Christmas and the January sales period, but added it was confident of hitting record full year profits.

Revenues in the six months to September 30 rose 83% over the same period last year, at pounds 31.8m..

The firm's sales in the financial year to date have grown almost 90% thanks to the strong surge in sales since the end of September.

The company's chief executive Nick Robertson said, "I am confident that the investments we have and continue to make will enable ASOS to stay at the forefront of online fashion shopping in the UK."

A Christmas trading statement will be released on January 20.

Retail analyst Jose Marco-Tobares of Numis Securities said the interims were a "phenomenal set of results".

The figures come in stark contrast to that of some other retailers on the high street, with a recent slew of profit warnings. …

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