Asos powers ahead despite economic slowdown

Asos saw sales soar 80% for the four weeks to April 27

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Asos saw sales rise 80% for the four weeks to April 27 thanks to the continued trend for online shopping.

Asos said that it was optimistic about prospects for the business despite the uncertain economic conditions. Sales for the year to March 31 rose 90% to £81 million and the company said pre-tax profit would be slightly ahead of market expectations.

The etailer said that gross margin would be in line with guidance.

Asos chief executive Nick Robertson said: "Despite the uncertain economic conditions, I remain optimistic about the prospects for Asos. We continue to benefit from the increasing popularity of online shopping and we have made considerable investments in management, infrastructure, product ranges and marketing to support and sustain future growth."