Online fashion retailer ASOS is sailing through the recession
with sales up 104% in the 12 months to March 31.
The clothing website has defied the downturn in its pre-close
trading statement. Sales grew to £165m and the company is
predicting another year of strong growth. It expects its profit to
be slightly ahead of market expectations.
Chief executive Nick Robertson said younger fashion is proving
more resilient to the recession.
He added, "Internet shopping continues to gain in popularity and
our international sales are being bolstered by the weak pound."
International sales for the four weeks to April 24th were up 173%
year on year.
The company is currently testing ASOS Life, its own community
platform, and will launch it next month.
Robertson said, "We remain committed to becoming the market
leader in online fashion in the UK and will continue to invest in
the business accordingly. Whilst we are being more conservative in
our planning for 2009/10, we believe the outlook is still very
positive, and we look forward to another year of strong
growth."
Simon Hanson, product management director at business systems
provider Prologic, said the reason for ASOS's success was partly
down to its constantly updated stock.
He said, "It has built a website that is enjoyable to browse and
is constantly refreshed with new content. Whilst the majority of
websites follow accepted guidelines to streamline the user
experience, minimise clicks and deliver a fast, utilitarian
service, these successful fashion sites have learned the value of
sending their customers material that is part magazine and part
catalogue."
The company's preliminary results will be released on June
29th.
ends