Business as usual as ASOS posts strong growth
14 October 2010 09:46
Online fashion business ASOS has posted yet another strong set of results as the company continues to grow.
In the three months to September 30th, the company saw retail sales rise 47% year-on-year, with UK sales up 21% and international sales up 128% in a period which saw the launch of the company's US website.
Nick Robertson, CEO, commented: "I am pleased to report continued strong sales growth, both in the UK and Internationally. Our US website launched during September and we expect to be live with both our French and German websites by the end of October 2010. With retail gross margin ahead of prior year and costs tightly managed, we expect our full year results to be in line with market expectations ".
Clinton Cards cautious over Christmas periodDon Lewin, chairman of Clinton Cards, has said that the company is cautious about the economic climate and how it will impact the Christmas period, which is a key trading time for the company.In a statement covering the year ended August 1st, Clinton said that group adjusted operating profit increased by 3.8% to £16.2 million, whilst net debt at the year-end was reduced by 28.4% to £35.8 million.
During the period, the company completed its re-structure of the Birthdays brand, resulting in an increase of 4.4% in operating profit to £17.8 million. However, Mr Lewin added that further changes in the group were afoot, as the company committed to a branding exercise that will result in a redesign of its Clinton store estate.
Mr Lewin commented: "We believe the initiatives we have undertaken will leverage the Clinton brand and provide a solid foundation for the long term. However, in the near term, whilst we are confident with our product proposition, we remain cautious about the economic climate and its effect on consumer spending ahead of the important Christmas trading period ".
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