Apr 11, 2018
Asos sales jump 27%
Swelling revenues at fashion retailer Asos continue to suggest that the way to young consumers' hearts is through their screens. In a trading update on Wednesday, the company said its ambition to be "The world's number one destination for fashion-loving 20-somethings" was on track after a 27 per cent rise in sales to £1.1bn in the six months ending in February, compared to the same period a year before. Pre-tax profits rose 10 per cent to £30m. CEO Nick Beighton said the site attracted more than a billion visits for the first time. The results form a sharp contrast with Swedish retailer H&M, which has struggled to adapt to the new digital market.
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