Britain's ASOS back in vogue with Christmas sales beat

Britain's ASOS posted a 20% rise in sales as it benefited from Christmas and Black Friday sales, beating market expectations

LONDON - British online fashion group ASOS beat forecasts for Christmas sales, increasing investor confidence that management has addressed the operational and execution issues that plagued it in 2019, and sending its shares higher.

“It is still early in the year and much remains to be done, but we are encouraged by the progress we have made so far. We remain confident in our ability to capture the substantial opportunity ahead of us,” Chief Executive Nick Beighton said. In October ASOS said these issues were largely behind it, and its performance over the Christmas trading period showed further progress, with UK retail sales up 18%.

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