ASOS sees full-year sales growth at upper end of range

LONDON: British online fashion retailer ASOS forecast sales growth for the full 2016-17 year at the upper end of its 30%-35% guided range, as it reported continued strong trading both in its home market and overseas.

Established in 2000 for fashion-conscious twenty-somethings, ASOS was an early e-commerce success story, but is seeing growing competition from the likes of British rival Boohoo and Germany’s Zalando as well as from traditional store-based chains who have invested heavily in their online offerings.