ASOS in fashion with 47% revenue rise

Online clothes retailer ASOS is up nearly 10% today after posting a 47% increase in fourth-quarter revenue.

ASOS' total sales for the three months to 31 August came in at £208 million, which compares with £141 million for the same period last year. Full-year revenue is expected to come in at £769 million, up 39% on the year, and the company hopes to hit its £1 billion revenue target in 2015.

The retailer is performing well across all regions – in the most recent quarter, UK sales rose by 49%, US revenue increased by 59% and European and Australian sales rose by 73% and 26% respectively. There are also plans to launch a Chinese language website in October.

ASOS, an acronym for As Seen On Screen, was founded in 2000 and is now the largest independent online fashion and beauty retailer. ASOS is one of the stock market’s success stories, having been listed on the alternative investment market (AIM) in 2001. AIM, which is part of the London Stock Exchange, has less stringent requirements for listing and it allows new companies to raise money. The online retailer is now worth £4.3 billion and is the biggest stock on AIM.

ASOS plc (DFB) chart

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