ASOS to beat profit forecasts as sales soar
LONDON, Sept 19
LONDON, Sept 19 (Reuters) - ASOS expects a small beat to forecasts for year profit, helped by another jump in quarterly sales and better margins, the fast-growing British online fashion retailer said on Thursday.
The firm, which targets young women looking to emulate the designer looks of celebrities such as singer Rita Ora and model Cara Delevingne, said retail sales increased 47 percent to 207.9 million pounds ($332 million) in the three months to Aug. 31, its fiscal fourth quarter.
That compares with a third quarter rise of 45 percent.
ASOS said retail gross margin increased 460 basis points year-on-year in the quarter.
Prior to the update analysts' were forecasting a consensus pretax profit for the 2012-13 year of about 53 million pounds, up from 44.5 million pounds in 2011-12.