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!!

ASOS FY underlying pretax profit up 176 percent
AFX


LONDON (Thomson Financial) - ASOS Plc, the AIM-listed internet fashion retailer, reported Monday a 176 percent increase in full-year underlying pretax profit and buoyant current trading, bucking the deepening gloom in the UK retail sector.

For the year to March 31 2008, the group, formerly known as As Seen on Screen, made a record underlying pretax profit of 8.2 million pounds, up from 3.0 million pounds last time, on revenue up 90 percent to 81.0 million pounds.

Pretax profit was 7.3 million pounds, up 117 percent and above analyst forecasts of about 7.0 million pounds. Earnings per share rose 99 percent to 6.6 pence.

The retailer has also made an impressive start to its new financial year, with sales for the 13 weeks to June 27 up 95 percent.

As of June 27, ASOS.com had 1.65 million registered users.

The website targets internet savvy 18 to 34 year olds looking to emulate the designer looks of celebrities, such as Kate Moss, Paris Hilton and Victoria Beckham, but at a fraction of the price.

ASOS.com offers over 10,900 fashion products across womenswear, menswear, footwear, accessories, jewellery and beauty.

Shares in ASOS, 14 percent of which are owned by chief executive Nick Robertson, closed Friday at 327 pence, valuing the business at 237 million pounds.

james.davey@thomsonreuters.com

http://weblogs.hitwise.com/robin-goad/2008/07/asos_com_growth_and_demographics.html

;-0

So the roses may not last all summer!

Peaked and on it`s way downhill now by the look of the chart maybe.

Views of a chart expert please?

1 year and 6 month charts below.
trend is still very healthy, but even in a strong market, nothing continues upwards in an unbroken line.

new clothes, even for women(!), are not a necessity of life, so with incomes being badly squeezed and sentiment continuing to fall, it is no surprise to see the high street shops being badly hit.

ASOS has escaped the pain so far, firstly because is seems to fill a particular niche very well indeed, and also does not have the frightening o'heads of high street rentals.

nevertheless, if spending is being reduced, it is hard to see ASOS being totally immune, and thus a reflection in sp which, of course, is looking forward +/-6 months.

i don't think "today" is a time to be buying anything (except perhaps kevlar vest stocks!), but if i were a holder, i would be pretty sanguine and only be concerned if sp dropped with any impetus through 25/50 dma levels.

Thanks for the chart but sentiment plays a huge part imo.

of course .... read my comment!

This is a great stock but taken my money out. It is largely immune because of the teenage/twenties market it appeals to (ie no mortgage or cares and will continue to spend on throw away fashion). So the fundamentals are great but if we're now in a bear market at this 306p 50 day resistance has gone then, look out 200dma, as cynic mentions above and "could" be a good short if only for a correction after a superb run higher since Buncefield. Also if Philip Green doesn't buy it, he may replicate it and that might cause a squeeze.

Once it breaks below 300p and ends there for the day we could see the real pressure begin.

au contraire ma chere cloche - the SP bounced off both the lower trend line and the psychological 300p level today.

The drop across the entire retail sector is in the range 5-15%. The growth in the much smaller on-line sector is 50-75%. So ASC can continue to do very well (even beating overall market shifts) whilst the wider retail market suffers. It's not just the footloose and fancy free teens - the shift in 45-55 yr old market towards on-line is also significant as it is across all other age ranges than can actually use a computer.

Did our ears deceive us? At the panel discussion What makes a successful site, were sure we heard Asoss chief Nick Robertson say it would be easy for his business to trade in France within 18 months using the same stock as its UK website. Whether or not this is something he is seriously considering remains to be seen.
taken from this weeks e-business newsletter.

Held very well off support yesterday. Shall just watch (general) market for a bit before coming back in..

greyhound agree 3 looks good support for now.

note that bounce was exactly off 50 dma - see above

cheers cynic it dipped below the 50dma & 3 interday for about an hour yesterday.

Also a good sign that when the s/p dips it ALWAYS bounces back and latest low always higher than previous low

But won't always.

so far it has, but when it stops doing that it will be time to possibly reconsider holding/strategy

I still want to get back in here but my gut instinct tells me this needs to correct, albeit the trading's good, the strategy is good etc. Sitting and waiting for the time being...

nice to see the 3 level holding once again.