Asos bang on trend as sales surge 37pc
SALES at the UK's largest online-only fashion retailer have surged amid a better-than-expected domestic performance.
Retail sales rose 37pc to £186.5m (€208.6m)at Asos in the three months to the end of February – better than a market forecast of £34m.
The retailer, which counts US First Lady Michelle Obama among its fans, has had its revenue buoyed by free worldwide delivery, as well as a focus on adding fashion content such as style blogs and advice to its website.
Nick Robertson, Asos chief executive, said the UK performance remained ahead of expectations at 28pc sales growth.
"We remain positive in our outlook for the year to 31 August, 2013," he said.
The group said its home market remained ahead of expectations in the second quarter with sales up 28pc to £75.5m, compared to 12pc growth a year ago.
International sales rose 45pc, up from a 34pc rise in its first quarter, to almost £111m.
Asos, which was launched in 2000, has websites targeting the UK, US, France, Germany, Spain, Italy and Australia and also ships to more than 190 other countries from its central distribution centre in the UK.
It attracts 16.6 million visitors a month and at the middle of last year had 8.7 million registered users and 4.7 million customers from 160 countries.
Ms Obama gave the retailer a boost when she wore a red and white checked dress on the presidential campaign trail last year, which was reportedly from Asos.