The holiday season may be over, but Asos's days continue to be merry and bright. The British e-tailer said Tuesday that its sales in the six weeks leading up to January 9 — also known as the big old annual gift rush — jumped 15 percent, as projected. Asos's share prices shot up 18 percent in London following the news, before settling around 9 percent by noon, New York time.
The discrepancy between Asos's performance in the U.K. and the rest of the world seems to be easing somewhat, after a strong pound made shoppers everywhere else a little less willing to buy in the first quarter. In the three months leading up to November 30, international sales dropped 2 percent, even though the U.K. got a 24 percent lift.
When Asos execs reported those disappointing figures in early December, they explained that they were putting part of the £6.3 million of insurance proceeds the company received after a summer warehouse fire toward alleviating the pricing pressure on international shoppers. And it seems to be working: international sales got a 5 percent boost during the holiday season. (U.K. sales, for their part, are up 27 percent.)
So there's still a discrepancy, but it is an encouraging sign. 9 percent for you, Asos. You go, Asos.
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