UK's ASOS holiday period sales growth beats forecasts
London
BRITISH online fashion retailer ASOS on Thursday beat forecasts for sales growth in the key Christmas period, underlining the ability of the online-only players to out-manoeuvre their traditional rivals.
ASOS's performance, and that of online rival Boohoo, further illustrates how the UK retail sector - and clothing in particular - is being transformed by the Internet. In stark contrast to their stellar numbers, Britain's biggest clothing retailer Marks & Spencer this month reported another fall in underlying clothing sales in the Christmas quarter, while rival Next recorded only a small rise.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Billionaire Geiger is said to near US$7 billion L’Occitane buyout
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years