Asos hails strong quarter

Online fashion firm Asos posted a 31 per cent rise in first quarter retail sales after a strong performance from the US, Australia and resilient trading in the UK.

The group said it continues to trade in line with expectations and remains positive about its outlook. Retail sales rose to £137m in the three months to June 30.

UK retail sales for the three months increased 8% and International sales jumped 49%.

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CEO Nick Robertson commented: "Our UK performance was particularly encouraging given the current climate."

Growth at its International business was underpinned by a strong performance in the US, up 83%. Sales at the rest of world category bounced 61%, with most of its growth from Australia.

International sales now represent 65% of the total up from 57% last year, it said.

Asos said it continues to trade in line with expectations and retail gross margin is in line with guidance.

CJ