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.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
What is the 25x retirement rule and does it work?The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about
