THE TIPSTER June 5, 2011 SHARES in online clothes retailer Asos tumbled nearly £2 on Friday, despite pre-tax profits rising 41 per cent to £28.6m. Asos is an AIM-listed company with a market cap of £1.6bn, so the question remains how sustainable the price is at almost five times sales. You can’t knock the ambition though. It has big plans [...]
Asos sales in overseas rise June 2, 2011 ONLINE clothes retailer Asos yesterday announced plans to launch three new international websites as it reported a 41 per cent profit rise for the full year. The company said it had been boosted by international expansion and said it was on track to deliver on a plan for £1bn of sales by 2015. Chief executive [...]
Beware weight of expectation June 2, 2011 BEWARE the weight of great expectations. It is hard to quibble with the performance of Asos, which grew annual profits by 41 per cent in the year to 31 March; few other consumer-facing businesses can match that in these tough times. Strategically, the firm is making great strides. It has grown the number of its [...]
Asos profit up 41pc June 2, 2011 Online fashion firm ASOS posted a 41 per cent rise in year profit, boosted by international expansion, and said it was on track to deliver on a plan for £1bn of sales by 2015. ASOS, which targets internet-savvy 16 to 34-year-old women looking to emulate the designer looks of celebrities like Kate Moss, Sienna Miller [...]
Summer glow essentials April 18, 2011 Get the look 1 YSL Volupte Sheer Candy Glossy Lip Balms, £21 at Harrods. www.harrods.com 2 Nars Velvet Gloss Lip Pencils, £17.50 each at John Lewis, House of Fraser and Selfridges 3 Urban Decay stardust eyeshadow in Griffith, £15, www.asos.com 4 Benefit Bella Bamba blush, £23.50, www.benefitcosmetics.co.uk 5 Clinique Chubby stick in chunky cherry, £14.00, [...]
BEST OF THE BROKERS April 14, 2011 ASOS JP Morgan rates the online retailer “neutral” but has raised its target price from £13.20 to £19. The broker was pleasantly surprised by ASOS’s sale growth in the last three months of the financial year, which more than offset extra investment in promotional offers. JP Morgan thinks the rise in expenditure is already paying [...]
Asos sees overseas growth fuel profit April 13, 2011 ONLINE fashion retailer Asos yesterday said its sales were “flying” in overseas markets as the web defies the downturn on the high street. The firm said retail sales increased 70 per cent to £93.4m in the three months to 31 March, its financial fourth-quarter. That compares with a rise of 59 per cent in its [...]
FTSE rallies after banks and retailers deliver good news April 13, 2011 THE UK’s top share index closed higher yesterday, boosted by retailers and banks after a sell-off on Tuesday described as “overblown”. At the close, the FTSE 100 was up 45.97 points, or 0.8 per cent at 6,010.44, recouping half of Tuesday’s 1.5 per cent drop and recapturing the 6,000 level. Banks gained after better-than-expected results [...]
UK companies set to unlock profit out of global growth April 13, 2011 TOM Ewing is the engaging and energetic manager of Fidelity’s UK Growth fund, which has over half a billion pounds under management. The 34 year old scours the country looking for undervalued companies that are able to tap into the increasing wealth of consumers in emerging markets. From the powerhouses of the FTSE, down to [...]
Asos profit estimated at top end April 13, 2011 online fashion firm ASOS said full year profit was likely to be towards the top end of expectations after a jump in fourth quarter sales. The fast-growing firm said retail sales increased 70 per cent to £93.4m in the three months to 31 March, its fiscal fourth quarter. That compares with a rise of 59 [...]