ASOS maintains strong sales growth

Fashion e-tailer ASOS produced more stunning sales figures today as younger shoppers kept spending despite the slowdown gripping the rest of the high street.

Fast-growing ASOS – which stands for 'As Seen On Screen' – said sales in the six months to September 30 were more than double last year, up 104%.

The retailer targets 16-34 year-olds with clothing and accessories based on those worn by celebrities, and now has 1.83 million registered users.

Chief executive Nick Robertson said its customer base “should be resilient” to the slowdown as online shopping gains popularity.

ASOS’s younger customers – especially those aged 16-24 – were less weighed down by mortgages and rising utility bills, and were still likely to be going out, he added.

Even the current crisis gripping the world’s financial system has not derailed the rapid charge of the business.

“We obviously talk to all retailers. A couple of weeks ago when the crisis was in the news we saw a slowing, but then it has picked up again,” he said.