* Q4 retail sales up 34 pct
* Q4 UK retail sales up 4 pct, intnl up 63 pct
* Confident on outlook
LONDON, April 26 Fast growing British online
fashion retailer ASOS said it would meet forecasts for
year profit after it posted a 34 percent rise in fourth-quarter
sales driven by growth in overseas markets.
"We remain committed to our global expansion plans and
approach the new financial year with confidence," chief
executive Nick Robertson said on Thursday.
ASOS, which targets 16 to 34-year-old women looking to
emulate the designer looks of celebrities such as Alexa Chung,
Tulisa Contostavlos and Kate Moss, said UK retail sales rose 4
percent in the three months to March 31.
That compared with analyst forecasts of flat to up 9.6
percent and third-quarter growth of 10 percent.
International sales rose 63 percent versus analyst forecasts
of growth of 61-94 percent and growth of 93 percent in the
Total fourth-quarter retail sales were 124.2 million pounds,
taking the total for the year to 481.6 million pounds, an
increase of 49 percent.
ASOS said gross margin in the quarter was "significantly
ahead" year on year, reflecting the greater proportion of higher
margin international sales.
Shares in the firm hit a 12-month high of 2,508 pence in
June, fuelled by buoyant trading and bid speculation, but have
fallen back since as the overall market tumbled, directors sold
shares and investors fretted about the impact of rising youth
unemployment on UK growth.
The stock closed Wednesday at 1,567 pence, valuing the
business at 1.21 billion pounds.