Miranda McLachlan
Attend a special evening hosted by Mike Atherton
Asos, the internet fashion retailer, has proved itself immune to the lagging fortunes of the high street with a 90 per cent lift in sales and promises of higher than expected profit for the year.
Sales to to March 31 are expected to jump from £42.6 million to about £81 million. The new financial year has also got off to a robust start, with sales for the four weeks to April 27 up 80 per cent.
The retailer has made a name for itself by offering internet-savvy 16 to 34-year-olds clothing as worn by celebrity icons, has continued to report bouyant trading conditions at a time when many retailers are underperforming.
Asos said that clothes in the style of Agyness Deyn, the supermodel, Bob Geldof's daughters Peaches and Pixie as well as Alexa Chung, the TV presenter, were proving popular.
The bullish trading update sent shares in the AIM-listed company, formerly known as As Seen on Screen, nearly 2 per cent higher to 306p in early afternoon trading.
Nick Robertson, chief executive of Asos, said: "Despite the uncertain economic conditions, I remain optimistic about the prospects for Asos.
"We continue to benefit from the increasing popularity of online shopping and we have made considerable investments in management, infrastructure, product ranges and marketing to support and sustain future growth."
Asos said that its pre-tax profit would be slightly ahead of analysts' forecasts after taking a one-off charge of £1.1 million for the closure of a warehouse into account.
Mr Robertson said that, stripping out this one-off charge, the group's profit would be significantly ahead of market expectations.
The retailer said that its gross margin would be in line with previous guidance.
Industry sectors news at a glance. Interactive heatmap, video and podcast
Everything the Business Traveller needs to know to make a better trip
Get ready for the winter sports season, with our resort guides and snow reports
We are backing British business, what is the confidence of the nation and what businesses are succeeding?
Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge
With rail travel in Europe on the rise, we review the benefits of travelling by train
In this special section we explore new food trends to help improve your dinner party and impress guests
Enjoy further reading from Travel to Fashion, Business to Sport, discover more
1998
£47,955
12 months for the price of 11 and a 5% discount.
Offer ends 31/11/09
Check your free Experian credit report before applying
Car Insurance
£353 per day
Phonepay Plus
London
£12,000 plus expenses
Ministry of Justice
London
£37,000
Department for Culture, Media and Sport
London
Currently £36,285
Department for Culture, Media and Sport
London
Moments from Battersea Park.
For sale with Winkworth
Find out about shared ownership.
See your free Experian credit report beforehand
Accommodation, flights, tickets to the race and a KL city tour for only £999pp
PremierHolidays.co.uk
For your ultimate tailor-made ski holiday, click here
Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com
World Class Golf, Spa and preferential Beach Club. Private estate overlooking West Coast
Villas from £275 per night inclusive of Golf
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths | Subscriptions | E-paper
News International associated websites: Globrix Property Search | Milkround
Copyright 2009 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.