This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.independent.co.uk/news/business/news/asos-sales-latest-rise-brexit-pound-sterling-surge-online-clothes-shopping-retailer-a7838511.html

The article has changed 4 times. There is an RSS feed of changes available.

Version 0 Version 1
Asos sales surge 29% thanks to Brexit-battered pound Asos sales surge 29% thanks to Brexit-battered pound
(about 5 hours later)
Online fashion retailer Asos has posted a jump in third quarter revenue, helped by a surge in international sales and investment in lower prices.Online fashion retailer Asos has posted a jump in third quarter revenue, helped by a surge in international sales and investment in lower prices.
Asos said total sales in the four months to 30 June rose 32 per cent to £676m, driven by strong growth in the US and Europe, where revenue rose 38 per cent and 41 per cent respectively.Asos said total sales in the four months to 30 June rose 32 per cent to £676m, driven by strong growth in the US and Europe, where revenue rose 38 per cent and 41 per cent respectively.
In the UK, revenue rose 16 per cent to £234.6m.In the UK, revenue rose 16 per cent to £234.6m.
The company has previously said, as a net exporter, the collapse in the value of the Brexit-battered pound has helped its international sales rocket and allowed it to plough more into price cuts.The company has previously said, as a net exporter, the collapse in the value of the Brexit-battered pound has helped its international sales rocket and allowed it to plough more into price cuts.
Boss Nick Beighton said on Thursday: "Strong half one sales momentum has continued through the third period supported by our ongoing investment in our customer proposition and in price. CEO Nick Beighton said on Thursday: “This good performance has been underpinned by advances across all areas of our business including retail, technology, warehousing, delivery solutions and customer care.”
"This good performance has been underpinned by advances across all areas of our business including retail, technology, warehousing, delivery solutions and customer care."
Asos said it remains on track to notch up full year pre-tax profit of £79.4m.Asos said it remains on track to notch up full year pre-tax profit of £79.4m.
The group's buoyant results come while most other British retailers are facing a torrid time. The group’s buoyant results come while most other British retailers are facing torrid times.
John Lewis has warned over a "turbulent and challenging" high street amid cost pressures from the rising inflation and higher costs and a dramatic shift in consumer spending. John Lewis has warned over a “turbulent and challenging” high street amid cost pressures from rising inflation, higher costs and a dramatic shift in consumer spending.
Lord Wolfson, the chief executive of Next, has also warned of another tough year ahead as the high street giant grapples with a slowdown in consumer demand.Lord Wolfson, the chief executive of Next, has also warned of another tough year ahead as the high street giant grapples with a slowdown in consumer demand.
PA