Source - SMW
Online fashion retailer Asos said it expected annual performance would be 'significantly' ahead of market expectations for the current fiscal year, though added that there was uncertainty over whether the outperformance could continue beyond this year.
 
Revenue growth was now expected to be between 17% and 19% with pre-tax profit in the region of £130m-to-£150m.
 
The improvement in expectations was supported by stronger than anticipated underlying demand and a slower-than-expected pace in the rate of returns.
 
As lockdown measures eased, it had 'become evident that returns are not increasing at the rate we originally anticipated,' the company said.
 
Looking ahead, Asos said the 'extent of this outperformance and any impact beyond this financial year will be driven by how customer shopping behaviour normalises.'

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