Online fashion retailer Asos has remained coy on speculation that product director and executive director Robert Bready may exit the company after he sold all of his shares in the firm.

In an announcement on the stock exchange, Asos said Bready sold 143,125 ordinary shares at GBP0.35 (US$0.55) each at an average price of GBP1.818 on Monday (16 July). He now has no shares in the company.

Earlier this year, Bready was granted 788,604 shares worth GBP0.35, which will allocated on 30 September 2012 and 30 September 2013.

However, a spokesperson for the company said: "There is no statement to confirm the speculation referenced."

Earlier this month, the online retailer recorded a jump in first-quarter sales driven by strong revenues in the US and Australia, as well as an encouraging performance in the UK.