ASOS Reports Profits in Fashion Business

ASOS reports profits in fashion business

One of Britain’s biggest online fashion retailer ASOS has reportedly registered a whooping profit, almost quadrupling it in the full-year. The company benefited from the robust demand arising due to COVID-19 in households.

Also, the forecast predicts sales getting even better for the online fashion house in 2020-21.

Interestingly, apparels, precisely the clothing line of ASOS is quite popular among youngsters and those who are in their twenties. The brand made a pretax profit of 142.1 million pounds until August 31, 2020. It surged by 33.1 million pounds compared to the same period last year.

The company served 23.4 million happy clients, which is a 19 per cent rise in its sales. The overall sales remained 3.26 billion pounds, with over 3.1 million extra customers added to the core.

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