Asos set to reveal soaring overseas sales growth

Asos booked a 38 per cent sales rise in the US and a 41 per cent increase in European sales.
Asos booked a 38 per cent sales rise in the US and a 41 per cent increase in European sales.
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Online fashion retailer Asos will offer up some stylish full-year sales numbers this week as it benefits from its global expansion.

City analysts are eyeing annual sales of about £1.9 billion, up by a third or so on the year before, with profits tipped to grow by about a quarter to £79.3 million. At its last trading update in July, the group – whose name stands for As Seen On Screen – booked a 38 per cent sales rise in the US and a 41 per cent increase in European sales as it continues to see a boost from the Brexit-buffeted pound.

George Mensah, an analyst at Shore Capital, said: “International sales growth continues to predominantly drive the top line of Asos, and continues to be a strong focus for management.

“We view this year and 2018 as a period of heavy investment as the company lays the foundation for further internationalisation. This investment is already helping to accelerate overseas sales growth.”