ASOS have dropped quite significantly in the past week for no particular reason and I view this as the perfect opportunity to invest as I can see them bouncing right back up to the 5.50p mark in the next 2-3 weeks. STRONG BUY!!

jimmy

Must be honest, don't have a clue. Except to say that, I would expect ASC to confirm the new warehouse is online and fully operational and therefore solving the distribution problems, or at the very least nearly on-line. The last trading staement indicated full year profits of between 1.05-1.20 mill before tax, down from the previously anticiapted 1.50 mill. Clearly the rumour, fuelling the recent rise is based on the reduced profit forecast being surpassed. I understand that their website continues to receive record 'hits' so perhaps there is some basis for the rumour. I certainly hope so. Sorry, I can't be more informative, but who knows what sales they are achieving until they tell us?

PTH

Cheers pt, lets hope it heads back to the highs of earlier this year , i know Eric has been buying in when it was low 40's, good on him..

Just back after a couple of days away - no not golf, feeding the soul! Find SEO down biut offset by the good rise in ASOS. The year to 31st march 2005 is probably in-line with the revised forecasts of 1.1m (March 3rd RNS) which was down from 1.5m previously forecast. Seymour Pierce forecast 2.25m for the current year or eps of 3p per share. This gives a forecast PE of around 20. Now, it appears likely from the Hitwise figures that growth has resumed on the old trend line of something like 80% year on year and that pbt is likely to be more like 2.5m to 3m. This sort of projection is likely to also increase the projected pe. All the ggod news may not come through at onece; it doesn't need to. The next announcement is likely to be the completion of the warehouse move and encouraging sounds about trading. July should then give the 1st quarter trading when the improvement will start to be visible.

Looking at the charts, there is not really a resistance level until 80p. If it is established that the problems of last Christmas and new year are merely hiccoughs then the old rating should be quickly restored. Anyway that's my objective and it may come sooner than expected. Glad I called it right. I only bought 25% of my current holding at the bottom, 42.5p but my other three CFDs are now looking very healthy and I plan to hold for the run-up. Pinched a bit at present by SEO but will add to ASC holding as opportunity permits.

Eric

Eric

from adveefn:

johnyee7 - 24 May'05 - 20:22 - 21938 of 21947


Wondered why the price was going up:

sent to my email

rumours that asos was on the verge of issuing a bullish trading update moved the shares up 4.5p.The company was due to move to a bigger warehouse in mid May,investors speculated that they would issue a trading update in conjunction with the move.

Fidelity topping up AGAIN!!!


RNS Number:9352M
ASOS PLC
31 May 2005


ASOS plc

("ASOS" or "the Company")

Holding in Company

ASOS was advised on 27 May 2005 that Fidelity International Limited has acquired
553,700 ordinary shares in the Company and now holds a total of 5,156,500
ordinary shares, which represent 7.19 per cent. of the entire issued share
capital of the Company.

Of the total shareholding notified, 4,930,600 ordinary shares are held in the
name of JP Morgan, Bournemouth and 225,900 ordinary shares are held in the name
of Clydesdale Bank plc.

Just to compound marketmaker's note, Fidelity have now topped up 5 times since early March moving from 3.05% holding to the current 7.19%, more than doubled. They bought as the price fell from March to early May but have continued to buy during the SP rise of most of May.

Looks like Henderson Global Investors have also been picking up ASOS shares (Dated 31 March 2005 - this was AFTER the trading statement)

http://www.henderson.com/global_includes/pdf/funds/uk_equity_income_fund.pdf

At the same time, we introduced internet based fashion retailer Asos to the Fund. The company specialises in producing discount versions of clothes and accessories sported by celebrities and recent sales growth has been impressive.

ASOS PLC
09 June 2005


FOR RELEASE
7.00 am
Thursday 09 June 2005


ASOS plc

' ASOS' or 'Group'

('A leading Internet based fashion retailer')


PRE-CLOSE STATEMENT


* Profits for the year to 31 March 2005 in-line with market expectations

* Move to new 70,000 sq.ft warehouse scheduled for August 2005

* One million unique customers in March 2005

* Over 580,000 registered customers

* Confident of another strong year


Nick Robertson, the Chief Executive, commenting on the results, said:


I can confirm that the profit before tax and goodwill amortisation for the year
ended 31 March 2005 will be in line with market expectations and will be not
less than 1.05 million. We estimate that group sales for the period increased
by 79% to 13.4 million.


The move to the new 70,000 sq. ft. warehouse has been scheduled for the first
week in August. This has not, and will not effect current trading, as stock in
the business is currently 30-40% lower than pre-Christmas levels.


I remain optimistic about the prospects for the year ending March 2006. Young
fashion appears to be more resilient to macro economic pressures and the Company
will benefit from a full year of sales for the additional departments added
throughout 2004.


The web site has had a make-over, and our traffic levels are the highest they
have ever been. In March 2005 we attracted over one million unique customers for
the first time, and as at 1 June 2005 we had over 580,000 registered customers.
Consequently, I am confident that we can look forward to another strong year.


It is anticipated that the preliminary results for the year ended 31 March 2005
will be issued in the second week of July.


For further information:


ASOS plc
Nick Robertson, Chief Executive Tel: 020 7240 7070
Jon Kamaluddin, Finance Director

www.asos.com


Beattie Financial
Brian Coleman-Smith / Jo Clewlow / Nia Thomas Tel: 020 7053 6400

Seymour Pierce
Mark Percy / Ewan Leggat Tel: 020 7107 8000


ASOS plc is an Internet Retail and Marketing Services Group, established in June
2000 and admitted to AIM in October 2001. Its principle business is ASOS.com, a
leading online fashion and beauty retailer. Aimed primarily at an Internet
savvy 18-34 year old, ASOS has over 580,000 registered customers, and offers
over 2000 lines across womenswear, menswear, jewellery, beauty, accessories and
footwear.






This information is provided by RNS
The company news service from the London Stock Exchange

The content of this RNS, is very +ve IMHO, but downplayed, which is what he probably learnt from last year. The fact that the warehouse is not going to be fully operational until August is not an issue when it comes to this years sales. They will be running 2 systems side by side to ensure that their is a smotth transition before it becomes a stand alone warehouse in August.

Interestingly is the belief that the market ASOS operate in is nott deemed to be anywhere near as effected by 'macro economic pressure' as can be seen on the high street, which is what I said 2 days ago. Again, evey increasing hits and registered users and taking the affiliate programme inhouse is 'blue sky thinking' to maximise the value of the brand.

So why the fall in the sp? What's the matter with people???!!!

I was just going to post the same comment, queen1..JB..

A bit of profit taking plus the mms taking their chance to squeeze a profit out of the situation. But selling volume is really not that high and I can't see the sp staying down for long, as this does seem a positive news release for the medium term particularly looking towards Xmas.

The other day there was a buy to sell ratio like this and the price hardly moved , so you may be right RD,, MM's , where's Eric!!

0718 GMT [Dow Jones] ASOS' (ASC.LN) update just ahead of Seymour Pierce's expectations, says analyst Richard Ratner. Highlights higher than expected post-Christmas markdowns due to warehousing issues, hitting profit. Notes however, announcement of new warehouse, says "should the move go extremely smoothly" there may be chance of forecast upgrades. Still sees "huge potential upside" in the company. Retains buy, shares -2.5% at 59p. (PBA)

Hi folk! Most positive thing about the RNS is nothing negative! Warehouse move stretching into August but stock management, which was the problem at Christmas, now no problem with lower holdings. High hits ratio confirmed. Website looks brilliant to me. The trading figures are history. The timing of the results means, clearly intended, that Q1 trading figures will be available. If these reflect the increased traffic they could be ahead of expectations and analysts should then update their annual forecasts which are not demanding. Suspect there could be a further run ahead of this announcement so that this is a good time to top up. Quite understandable that price should ease to reduce profit taking; traders not understanding the opportunity may well want to move elsewhere as the positives in the note are 'subliminal'.

Eric

I think this is very much sell on result which was no better than expected in terms of actual and projected out turn for 2005 and 2006, but tinged with mild disappointment that the new warehouse will not be ready until August, when we all thought/hoped May/June.

Not surprised some traders have sold out in anticipation of (and thereby causing) the fall we have seen to day. Some consistent buying has already cut in, so we could be back to where we started within a day or so.

Mid to long term position unchanged and I don't plan to do anything with my holding.

sd

from a4ufroums.co.uk

Just received this email from Nick Robertson - which I will post verbatim and without comment

Keith, thanks for the e-mail. Couple of points; firstly Gavin has my full support and is acting under direct instructions from the board. Secondly ASOS has NEVER been more PROFITABLE.

Affiliates that follow the new guidelines have nothing to worry about, and will benefit from our SUBSTANTIAL investment in product range, branding, site performance/ presentation and marketing.

Kind regards

Nick Robertson

I agree with stockdog, you see it so many times its almost ritual, update comes out, sp heads south, but with marketmakers e-mail from the boss being a follow up,thesp may well languish. SD

Dogs of a feather!?

Can't make much of Nick Robertson's email without knowing what question(s) he was replying to.

sd

This is a research note from ASOS broker 'Seymour Pierce', published this morning after today's RNS.

Pre-close update

The company confirms that pre-tax profits, pre-amortisation of goodwill, for the year end 31 March are unlikely to be less than 1.05m, on sales up 79% at 13.4m.

In addition, a lease has been signed on the new warehouse at Hemel Hempstead, at a rental, after taking into account the rent free period, of around 315k per annum.

The move to this warehouse is planned for the first week in August and should be achieved with minimal disruption to trading.

In addition, after the pre-Christmas and immediately post-Christmas trading problems, caused by having less than 20,000 sq ft of warehousing spread over 4 locations, stock levels are currently 30-40% below the pre-Christmas level.

The website has been enhanced and traffic levels are running at their highest ever. In March 2005, for the first time, the website attracted over 1 million unique visitors; and by 1 June there were over 580,000 registered customers.

The management remains optimistic about the prospects for the current year. It sees, as we do, a resilient young fashion market, together with the fact that it should enjoy a full year of sales from the departments added in the last financial year.

We estimate that a combination of additional warehousing costs and reduced margin has cost the company around 0.8m in the last financial year. With a larger warehouse these problems should not recur.

For the year being reported upon we leave our forecast at 1.05m. However, whilst we increase our turnover expectations for the new financial year from 18m to 20m, we leave our pre-tax forecasts unchanged at present. This is because of it being early in the new financial year, and, secondly (and probably much more importantly), the execution risk connected to the warehouse move. Should this go according to plan, then there should be considerable room for upgrades.

Given the growth potential in future years, as well as the possible upside in the new years forecast, the shares remain a BUY.