ASOS sees heavy discounting in the UK
Online fashion retailer ASOS today warned the run-up to Christmas would be challenging in the UK as retailers slash prices.
The company, which targets 16 to 34-year-olds with clothes based on outfits first worn by celebrities, said UK retail sales increased eight per cent to £88.6 million in the six months to September 30, compared to a near three-fold increase in international sales to £122m.
ASOS, which has websites in seven countries and ships to a further 190 nations from the UK, said challenging conditions would continue in the peak period as all retail channels roll out heavy discounting.
The group, which attracts nearly 14 million unique visitors a month and has 6.3 million registered users, reported a 66 per cent increase in underlying pre-tax profits in the half-year of £11.7m.