Asos fashions record sales for autumn
ASOS'S biggest ever trading week including Black Friday helped offset the online fashion retailer's international woes, it said yesterday, writes Emma Vickers.
Coats have proved a big hit for Asos
The website enjoyed record sales as its fashion–conscious customers snapped up coats and partywear, according to chief executive Nick Robertson.
This contributed to a 24 per cent UK sales increase in the three months to the end of November, compared with a 2 per cent decline in international business.
We have commenced investment into our international pricing and have started to roll out zonal pricing capability
Strong domestic performance failed to reassure the City and Asos's share price rose 42p to 2421p.
The company lost shoppers in the EU, Russia and Australia as a strong pound drove up prices abroad. Asos intends to lure them back with price cuts, according to Robertson.
"We have commenced investment into our international pricing and have started to roll out zonal pricing capability," he said.
Asos will fund this with the £6.3million insurance payout related to the June fire at its Barnsley warehouse.
Asos was founded by Robertson as "As Seen On Screen" specialising in selling products featured on TV shows and worn by celebrities. It has evolved into a men's and women's clothing e–commerce site selling more than 80,000 branded and own–brand products.