Asos joins the Christmas sales boost club

Friday, 18 January 2013

Last but not least, the online fashion giant joint on Thursday the British fashion retailers which have seen spectacular sales growth during the Christmas period. Worldwide retail sales in December rose 41 percent to 78.1 million pounds year-on-year, compared with 30 percent growth in the previous three months, Asos said in a trading statement on Thursday.

Asos saw trade surge 57 percent in the US and 42 percent elsewhere, the 34 percent jump posted for British sales exceeded expectations, highlighted various analysts that follow the stock from London. "This is extremely impressive given the fact that the UK online clothing market, though still growing strongly, is one of the most mature in the world," Panmure Gordon analysts told Reuters. International sales represented 54 percent of the total in December, said Asos, a lower proportion than the 63 percent seen in its first quarter because of the traditional Christmas uplift in British sales, reported ‘The Telegraph’.

Elsewhere, the glamorous yoga apparel maker Lululemon Athletica also made the news on Thursday. The fashion retailer has announced its intentions of entering the men’s fashion territory. "I think for Canada in particular (menswear) is an enormous growth lever for us," Christine Day said at the ICR XChange investor conference in Miami. "We know that we are gaining a lot of traction in Canada in men's and you will see us making a substantial investment in our men's team. You will see us making more of a concerted effort which will drive Canada and our U.S. business."

The Motley Fool stressed that shares of lululemon athletica (NASDAQ: LULU ) “slid into a downward dog position earlier this week after the yoga-inspired apparel company updated guidance for its fiscal fourth quarter.” The company's revised guidance was to the high end of its original forecast, sending its stock down by a as much as 4 percent.

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