Pandemic boom for Asos as profits triple

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In another bumper set of results, the fashion giant posted a 253 per cent rise in profits to £106.4m for the six months to the end of February after sales jumped 24 per cent to £2bn.
Asos cemented its status as a lockdown winner as profits more than trebled.

In another bumper set of results, the online fashion retailer posted a 253 per cent rise in profits to £106.4million for the six months to the end of February after sales jumped 24 per cent to £2billion.

And striking a bullish note about life after lockdown, it predicted customers will continue to flock to its website in growing numbers even after shops reopen on Monday.

Lockdown winner: Online fashion giant Asos posted a 253 per cent rise in profits to £106.4m for the six months to the end of February after sales jumped 24 per cent to £2bn

The fortunes of Asos and online rivals such as Boohoo are in stark contrast to those of a number of once mighty High Street players.

In a sign of how the balance of power has shifted, Asos recently bought the Topshop and Miss Selfridge brands out of administration following the collapse of Sir Philip Green's Arcadia empire.

And Boohoo rescued the Debenhams brand – but not its stores – after the 242-year-old department store chain went bust.

Writing in the Mail…
Tom Witherow, By Tom Witherow For The Daily Mail
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