“Strong” Growth for Online Retailer

by Stephen Logan on 19th January 2010

Online clothing retailer ASOS has shown significant growth over the past year, according to a recent financial statement.

The website reported that it has enjoyed year-on-year increases in domestic (UK) and international sales of 25 per cent and 102 per cent respectively for the 42 weeks up to January 17th.

Nick Robertson, chief executive of the company, described the organisation’s position as "in line with the board’s expectation" and claimed he is confident regarding the year ahead.

He added: "I am pleased to report another excellent Christmas for ASOS. Sales and margin were both strong and we exited the Christmas period with a clean stock position."

In the five weeks leading up to January 3rd, the internet-only brand saw a 30 per cent increase in sales.

Meanwhile, a new report by the Institute of Practitioners in Advertising and BDO has revealed that UK businesses are increasing their online marketing budgets in 2010.