ASOS warns of £15m hit from Brexit costs after ‘strong’ Christmas

SourceSkyNews
SectorEconomy
CountryMiddle east

ASOS, the online fashion retailer, has reported a surge in sales over the Christmas season amid coronavirus disruption to the high street but warned it expects a financial hit from Brexit-related costs ahead.The company said the strength of its performance over the four months to 31 December meant it now expected that profits would be at the top of its forecasts for the financial year to August. It reported a 23% leap in group revenue to almost £1.4bn - with UK sales up by an "exceptional" 36% at £554m. Image: Demand for loungewear has been high during the pandemic at the expense of 'going out' fashion PIC: Asos It credited a 1.1 million leap in its customer base despite COVID-19 denting fashion demand as high street rivals suffered the effects of restrictions to control the virus.ASOS, ...read more...