Online Fashion Retailer Asos to Move to London Main Market
- Holiday sales were solid amid demand for dresses, formal wear
- Asos expects to switch listing by the end of February
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Asos Plc is moving its stock listing to the London stock exchange’s main market in a long-anticipated shift to attract more investors as demand for party dresses and formal wear fuels sales.
The U.K. online fashion retailer also said Thursday that sales over Christmas were solid, helped by brands like Topshop. After shocking the market with a profit warning in October, Asos held its full-year forecast steady and pointed to sales growth of as much as 15%.