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.
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%.
Subscribe to 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
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Paying the grandkids’ school fees could generate a shock IHT bill
Private school fees have soared as a result of the government’s VAT policy, meaning more grandparents are helping out – but what are the tax implications?
-
Number of savings deals hits record high – as interest rates slump to two-year low
Savers have more choice than ever when it comes to choosing a savings account or cash ISA. But, the interest rates on offer continue to fall. What’s next for the savings market?