UK fashion retailer Asos posts drop in profits, but sales impress
April 1 , 2015
Half-yearly profits at Asos, the UK online fashion retailer, fell to £18 million in the six months ending February, as compared to £20 million over the previous year’s same period.
The fall is being attributed to price cuts and international investments. The drop was recorded despite an aggressive Christmas sale period that saw a 14% rise in sales.
Meanwhile, the six-month revenue was up 14% to £550 million. While UK sales for Asos shot up by 27% in the first half, international sales rose by 5%.