ASOS online expansion rocks stocks marketFriday, 04 March 2011
Giant of fashion e-commerce ASOS has taken a further step by
launching Fashion Finder site. First outcomes were fast to be appreciated in the stocks market, where the e-tailer soared. Meanwhile, FashionUnited Top100 Index closed Thursday in 1,237.68, dropping by 21.93 points.
ASOS launch has rapidly reached the Stocks Exchange, where its titles were up by 0.93%. Fashion Finder is a new online shopping platform that has been designed to provide information on all the latest fashion trends. The site will also link visitors to rival retailers if the product the shopper is looking for isn’t sold on ASOS.
In USA, children's clothing retailer Carter's, took market share and plans to open more stores, but said sales at Walmart have flagged and rising materials costs will cause prices to rise. The Atlanta company that also owns the OshKosh B'gosh brand said it reached a record level of sales and profitability when it reported its fourth-quarter and annual results Wednesday. Carter's made $146.5 million for the year, or $2.50 a share, as compared to $115.6 million, or $2.03 a share, in 2009.
The company's share of the young children's apparel market increased to 14 percent. Carter's opened 30 new stores, and plans to open more than 50 in 2011. It saw Internet sales of nearly $20 million in 2010 after launching the site last year. Carter's will soon make its lines available in Dillard's, and will slowly raise its prices through the year to mitigate the impact of high cotton prices. The company said winter storms had a significant negative impact on December sales.
Wednesday's private-sector report showed strong job creation, the figures augured well for Friday's hotly anticipated February nonfarm-payrolls data. Traders, meanwhile, were considering the impact of conflicting reports that Libyan leader Moammar Gadhafi had accepted an offer from Venezuela to mediate a peaceful solution to the country's political crisis. The violent conflict has sent oil prices surging and darkened the global economic outlook.