UK: ASOS posts 6-month pre-tax loss
Online celebrity-style fashion retailer ASOS has reported a six-month pre-tax loss, despite sales growth of 86% in the same period.
Pre-tax loss totalled GBP12,000 (US$20,653) compared to a profit of GBP126,000 last year, as turnover grew to GBP8.3m from GBP4.7m a year ago.
The company said sales growth had slowed over the last few weeks to 58%.
Chief executive Nick Robertson said: "We have invested in our management and logistical teams, doubled the size of our buying and merchandising team and bought ourselves sufficient logistical capacity to support continued high levels of growth.
"I remain optimistic about the prospects for the business. We will use the relatively quieter fourth quarter of the financial year to introduce technology efficiencies into our logistical operations."
He added that ASOS was beaten only by Next's apparel site for visitor figures in October.
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