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16 November 2009

Sales soar 46% at Asos

Asos has revealed sales rose 46% year-on-year in the seven weeks to 15 November. The online fashion retailer said UK sales increased by 23% and international sales soared by 161% during the period.

Compared with the first half of the year, the interim results showed a slight drop in sales growth rate from 47% in the six months to 30 September. UK sales grew by 33% in the first half of the year and international sales were up 112%. The e-retailer reported profits grew by 34% in the six months to 30 September, compared to the same period last year.

Nick Robertson, CEO of ASOS, said “UK sales continue to grow and international sales have accelerated”. He added: “We invested in a number of customer-facing initiatives, specifically around delivery and returns, and continued to build our international operations, the output of which is clearly visible, with international now representing 25% of our sales. Fundamentally, the internet is the retail channel with the greatest potential and ASOS is ideally situated to exploit it.”