Asos reveals jump in first-half sales

ONLINE fashion star Asos rang up another double-digit hike in sales yesterday, buoyed by its overseas expansion.

The firm, which targets young people looking to emulate the designer looks of celebrities such as Cara Delevingne and Nicole Scherzinger, said retail sales had risen 37 per cent to £186 million in the three months to 28 February. The result was ahead of City hopes and stronger than the 30 per cent jump seen in the previous quarter.

Asos has enjoyed stellar growth despite the squeeze on consumer spending and has launched dedicated websites in a number of overseas markets including France and Germany.

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Chief executive Nick Robertson said: “We remain positive in our outlook for the year and continue to trade in line with expectations.”

Analysts at Numis Securities noted: “We believe that Asos is continuing to demonstrate its potential to become the online fashion destination for 20-somethings globally.”