Asos profits up 329% as lockdown boosts demand for loungewear
- Date: 14-Oct-2020
- Source: SkyNews
- Sector:Financial Markets
- Country:GCC
Asos profits up 329% as lockdown boosts demand for loungewear
Online fashion retailer Asos has reported a 329% rise in annual profits after sales held up thanks to demand for casual clothing and sportswear during lockdown.Revenues rose 19% for the year to the end of August - a slight slowdown compared to the 21% growth in the first half of the year, with smart and "going out" clothes becoming harder to shift.
The group faced higher costs to implement safety measures at warehouses but saved money as "more deliberate
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