Asos bullish on UK sales as foreign growth soars

 
Nick Robertson of ASOS
Laura Chesters10 April 2012

Online fashion retailer Asos insists its UK business is still growing despite international sales outshining home results.

Asos sells low-priced copies of the latest fashions worn by stars to cash-strapped 16-34-year-olds, as well as more upmarket brands.

It saw UK retail sales grow 10% in the three months to the end of December compared to a whopping, 93% sales rise for its international business.

The UK makes up 42% of group sales but the 10% growth beat analysts' forecasts of 5%.

Nick Robertson, chief executive, admitted: "Our sector is certainly not the easiest. It is challenged in the UK. But fortunately we sell to 20 somethings all over the world."

Total retail sales rose by 46% to £146.5 million and analysts expect profit to be in line with forecasts of £40 million for the year.

During the peak Christmas period Asos sold 16 dresses a minute and shipped its clothes to
190 countries.

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