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Sales continue to soar at Asos

Etailer Asos reported bumper sales growth of 118% for the nine weeks to January 16, with price promotions and free delivery being offered to compete with heavy high street discounting.

The business said its positioning in the young fashion market, which performed better than other sectors over Christmas, helped boost sales.

Despite discounting impacting margins, Asos confirmed that it predicts that pre-tax profits for 2008/09 will be in line with expectations.

Asos chief executive Nick Robertson said: “We took a view three weeks out from Christmas to compete and drive the top line.” He added that early spring sales had been encouraging.

Sales were up 108% for the 42 weeks ended January 16, and in December the Asos website attracted a record 5.2 million unique visitors.

The firm will launch its Asos Kids site next month and has secured 48 brands ahead of the launch, including Cath Kidston and Ugg Australia for kids.

Over the next 12 months Asos will also continue to develop its maternitywear business and its discount site, Asos Red.

Freddie George, an analyst at Asos’s house broker Seymour Pierce, said: “The international opportunity excites us. Sales, mostly to the Republic of Ireland, Sweden and Denmark, have trebled to £10.5 million in the past year without any major marketing effort.”

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