ASOS buoyed by overseas sales

Online fashion retailer ASOS has enjoyed a sales surge of 47% in the six months to the end of September, with overseas sales more than doubling.

ASOS

The rise was a slight slowing compared to first-quarter levels, but the company says its remains confident on its outlook for the full year.

International sales rose 110%, making up 25% of the total. It now ships to 114 countries and has 1.2 million active customers compared to 890,000 at the same period last year.

Asos, formerly known as As Seen on Screen, targets 16 to 34-year-olds looking to buy designer clothes at discounted prices.

In June, it reported a 93% jump in full-year profit, although it admitted its margins had been hit by sales promotions over Christmas

The online fashion retailer said that it had boosted its marketing and production spend over the financial year to end of March by 62%.

The move reflected the shift to in-house production of the ASOS magazine and the increased numbers of brands and lines on its website.

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