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Reuters
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Jan 12, 2017
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Asos to speed up investment plans, boosted by international sales

By
Reuters
Published
Jan 12, 2017

British online fashion retailer Asos said on Thursday it would accelerate the pace of its infrastructure investment as it expects sales to rise by nearly a third this year following bumper demand over the Christmas period.

International sales increased by 52 percent to 362 million pounds in the four months to the end of December, with sales in its home market up by 18 percent to 244 million pounds, the firm said.



"With sales for the year now expected to be up by c.25 percent to 30 percent, we're accelerating our infrastructure investment to handle that growth," Chief Executive Nick Beighton said.

The announcement comes after ASOS said in December that it planned to add 1,500 new jobs at its London headquarters. Capitalising on the weak pound, the company is finding opportunities for domestic expansion.

The firm will need to invest a further 30 million pounds to keep pace with its increased growth forecast, up from the previously proposed 140 million.

 

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