ASOS sees sales growth moderate
Online fashion retailer ASOS showed signs that its stellar rate of growth is slackening off despite virtually doubling annual profits.
ASOS said sales in the 13 weeks to June 26 were 52% ahead of the same period last year - compared with 80% at the end of April.
The firm - which targets the 16 to 34 age range with clothing and accessories based on celebrity outfits - is comfortably outstripping the traditional high street but taking a more conservative view of prospects this year.
"Clearly we are facing much tougher comparables, and there is now some evidence to suggest that the rate of growth in online sales has begun to moderate," chief executive Nick Robertson said.
In May 2009, year-on-year growth in online clothing sales slowed to 8%, the lowest in the nine-year history of the Interactive Media in Retail Group's index.
But ASOS is taking heart from market expectations that the share of clothing bought online is set to double from the current 5.7% to more than 11% by 2013.
Pre-tax profits in the year to March 31 were £14.1 million, 93% ahead of the previous year.
The group has 1.2 million active customers and almost 25,000 products.
Top trends in menswear include cut-off denim shorts, gladiator sandals, and washed out denims.
Jumpsuits, florals and 'boyfriend blazers' were in demand among women.
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