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LONDON, Jan 13 (Reuters) - British online fashion retailer
ASOS on Wednesday forecast a full-year profit at the
top end of market forecasts after Christmas trading surpassed
its expectations helped by strong demand during COVID-19
pandemic lockdowns.
Analysts have forecast a pretax profit of 115 million pounds
to 170 million pounds ($157-233 million) versus 142.1 million in
2019-20.
ASOS, which sells fashion aimed at 20-somethings, said group
retail sales rose 23% over the four months to Dec. 31 year on
year.
The group has traded through coronavirus lockdowns while
store-based rivals have had to close shops for months.
It also benefited from fewer products being returned by
shoppers during the crisis, as well as investment in product,
pricing and marketing, it said.
Its active customer base increased by 1.1 million to 24.5
million, ASOS said.
However, its gross margin fell 90 basis points, partly
reflecting changes to its product mix and increased freight
costs.
The group said it would incur Brexit tariff costs of about
15 million pounds in 2020-21 associated with country of origin
rules.
ASOS shares, up 57% over the last year, closed Tuesday at
5,196 pence, valuing the business at 5.1 billion pounds.
($1 = 0.7307 pounds)
(Reporting by James Davey, editing by Estelle Shirbon and Jason
Neely)
ASOS (ASC)
