Asos.com to deliver higher than expected profits

Online fashion retailer Asos.com plans to add own-brand childrenswear in September and the launch of its ‘community’ site Asos Life is imminent, the buoyant brand revealed this morning (April 27).

The debt free web retailer outlined its expansion plans as it reported a 104% jump in sales for the year ended 31st March in a pre-close statement. Its share value jumped this morning by 7.75p valuing the company at 270m as its chief executive Nick Robertson predicted its profit before tax would be ahead of expectations.

The retailer, which targets fashion-conscious 18-34 year olds on a budget, says it also plans to introduce new adult brands this summer including Mango, Hackett and Gant.

However, Robertson says it is being “more conservative” in its planning for 2009-10 as the retailer is “not immune to the prevailing economic conditions”.

Despite the caution, he added it was still on track to achieve its ambition to become the “market leader in online fashion” and underlined its strong position as a leading beneficiary of the resilience in young fashion sales and consumer migration from high street to internet shopping.

Recommended

London 2012 pitch narrowed to two marketing groups

Marketing Week

Update: The battle for the London 2012 Olympics marketing assignment, which requires the winner to sponsor the games to the tune of nearly £10 million, is down to WPP Group and McCann Erickson. It was earlier thought that Publicis Groupe was still in the running but this has been discounted. Chime Communications is the latest […]

Sunny D appoints M2M for relaunch

Marketing Week

Gerber Juice Company has handed M2M the media account for its Sunny D juice brand without a pitch. The agency already handles the media planning and buying business for the drinks company’s Welch’s Grape Juice. The appointment comes ahead of the planned relaunch of Sunny D during the summer. Advertising will be handled by My […]

Marketing director in place at Chessington theme park

Marketing Week

Merlin Entertainments has appointed Jon Fish as the new marketing director for Chessington World of Adventures. Fish takes up the position at Chessington previously held by Carolyn London. He is a former marketer for Phones4U and Jongleurs Comedy Clubs. Earlier this year Chessington restructured its management and appointed David Smith as divisional director. He replaced […]

Comments

    Leave a comment