Asos Sets 2.5 Billion-Pound Sales Goal Amid Investment Boost
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Asos Plc, the U.K.’s largest online-only fashion retailer, said it plans to more than triple revenue as increased spending on warehousing and distribution enables it to support an even bigger customer base.
Annual sales of 2.5 billion pounds ($4.2 billion) are “the next staging post in our journey,” Chief Executive Officer Nick Robertson said in a statement today, without giving a timeframe. Revenue in the last fiscal year was 769 million pounds and analysts predict sales of 1.01 billion pounds for the 12 months ending in August, according to estimates compiled by Bloomberg.