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Asos Christmas sales 15% higher thanks to strong domestic demand

UK-based online fashion retailer Asos Tuesday reported a 15% rise in Holiday retail sales and left its full year guidance unchanged. Asos’ shares rose over 9% in early trading.

Domestic sales for the six weeks to January 9 jumped 27% reflecting a strong operational performance over peak trading period, Asos noted. International sales, which now account for 51% of total sales, down from 56% a year ago, grew a more modest 5%.

CEO Nick Robertson said: “Trading over the last six weeks was in line with expectations… with growth accelerating over Q1 as anticipated.”

He added that improved international sales reflected an initial encouraging response to its planned price investments with its zonal pricing roll-out on track.

Retail gross margin, down around 200 bps on the prior year, was in line with expectations for the period.

Asos also said sales and ebit margin guidance for the year remains unchanged.

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