ASOS, the online fashion retailer, is expected to meet full-year expectations despite increased promotional activity before Christmas. It comes as the company reveals a 118% leap in like-for-like sales over the nine weeks to January 16.
The retailer, which targets “fashion-forward” 16 to 34-year-old women, says its margins were “impacted” by pre-Christmas free delivery weekend offers and “product promotions”.
However, it adds sales were up 108% year on year in the 42 weeks to January 16 and its active customer base has increased 112% to 1.2m in the last 12 months. ASOS defines “active” as customers that have made a purchase in the last six months.
ASOS chief executive Nick Robertson remains “cautiously optimistic” of his company’s prospects as “young fashion and the internet are proving more resilient in the current economic climate”.
He adds that the company will continue to invest in building “infrastructure” to support growth.