ASOS back on track after profit warnings

Online fashion retailer Asos ended the year on a high after a difficult 2014, as strong domestic demand lifted its retail sales over Christmas, boosting its shares.

Asos which suffered a fire at its main warehouse in Barnsley in June, thought to have cost the firm up to £30m in lost sales, saw British sales go up 27 per cent in the six weeks to January 9.

International sales were up 5 per cent.

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Asos, which lost almost two thirds of its market value last year because of the fire and three profit warnings, said retail sales in the six weeks to January 9 were up 15 per cent, ahead of the 8 per cent growth in the three months to November 30.

Nick Robertson, chief executive of Asos, said trading had been in line with the company’s expectations and that guidance for full-year sales and operating margin remained unchanged.

“Our roll-out of zonal pricing continues to be on track. Our programme of investment in our IT platform and our distribution capability are also progressing well,” he added.

The blaze at the 530,000 sq ft five-storey Barnsley building destroyed 20 per cent of its stock and around 500 workers had to be evacuated.