Asos reports strong sales momentum across holiday season

For the four months to December 31, 2020 Asos Plc said, group sales were up 23 percent to 1,364.1 million pounds, supported by investment into capturing available demand and building customer momentum. Gross margin in the period was negative 90bps reflecting continued ‘lockdown’ category product mix, investment into customer acquisition and increased freight costs due to Covid disruption. With restrictions likely to be in place for the balance of the first half, Asos expects a net Covid PBT benefit of at least 40 million pounds in H1 and FY21 PBT to be at the top end of current market expectations.