Today Asos has demonstrated that it’s still leading the fashion pack with soaring pre-tax profits and rising sales both at home and away.
Asos boss, online clothing aficionado Nick Beighton, said the business has “reinvested FX tailwinds” in the year to August 31, after benefiting in its international arm from currency fluctuations.
But that’s not to say that the retailer hasn’t been fiercely proactive to plump its own fortunes during the period.
Its differentiated customer proposition has allowed it to hold firm in a competitive UK market while it has invested in a ramped-up technology platform, added new payment methods and started to build new language sites.
With this and the outcome of the Brexit vote helping Asos to pull away from its rivals, it has reaffirmed its ambition to become “the world’s number-one destination for fashion-loving twentysomethings”.
Quote of the day
”The brand is far from saturation in, for example, Greater London and the South and along the M62 corridor, so lots of opportunities for growth.”
– Philip Bier commenting on the growth potential of Flying Tiger Copenhagen after rejoining the business
Today in numbers
Tesco’s rise in grocery sales in the month to October 7, according to the latest supermarket data from Nielsen
The estimated listing value of Footasylum, gearing to float on Aim next month
No planned updates tomorrow – check in with us for the latest news and analysis.
Emily Hardy, senior reporter