Sale rates soar for online retailer ASOS
ASOS has seen sales continue to soar despite the reopening of high street shops, per the firm’s latest market update.
UK sales increased 60 per cent for ASOS in the four months to the end of June, with active customers growing by a further 1.2m.
Chief executive officer Nick Beighton said, “ASOS has delivered another strong performance against a backdrop of continued social restrictions and global supply chain pressures.”
ASOS has done extremely well during the pandemic, capitalising on the physical closure of high street stores it has seen incredible sales growth.
The firm expects full-year profit to be broadly in line with current expectations.
The pandemic along with poor seasonal weather impacted the final weeks of UK trade, as customer demand for products declined. Despite this decrease, ASOS say they were able to increase their promotional activity.
Growth in the EU has also increased, particularly in Germany.
ASOS has struck a deal with US department brand Nordstorm to sell Topshop in their US stores and the company is hoping to see more global opportunities as the brand grows.
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