Online fashion retailer ASOS has forecast full year sales and profit significantly ahead of expectations after bricks and mortar rivals were forced to close during lockdown.
It expects revenue growth for 2019-20 to be between 17% and 19% with pretax profit of £130-150 million. In 2018-19, ASOS made a pretax profit of £33.1 million.
Next and Superdry have reported better than expected trading as Britain emerged from coronavirus lockdown but some high street retailers such as Debenhams, Marks & Spencer and John Lewis have announced plans to cut thousands of jobs.
ASOS said it had benefited from fewer items being returned, robust demand for "lockdown" categories, such as activewear, and a shift in customer behaviour towards more deliberate purchasing.
ASOS said: "Looking forward, the consumer and economic outlook remains uncertain and it is unclear how long the current favourable shopping behaviour will persist."
