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!!

RNS Number : 7546E
ASOS PLC
01 October 2008



FOR RELEASE AT 7.00 AM

01 October 2008



ASOS PLC

('ASOS' or 'the Company')

(Leading online fashion retailer)




AGM STATEMENT

ASOS.com sales up 104% for the 6 months to 30 September 2008

1.83m registered users at 28 September 2008 (1.43m at 30 September 2007)

Management positive about the long term prospects for ASOS

Nick Robertson, the Chief Executive, will make the following comments on current trading at the Annual General Meeting to be held at 11.00 am today at JPMorgan Cazenove, 20 Moorgate, London, EC2R 6DA.

'I am pleased to report another strong performance for ASOS.com. Sales for the 6 months to 30 September are 104% ahead year on year, up from 80% growth in the same period last year.

As at 28 September 2008, ASOS.com had 1.83m registered users and 890,000 active customers, up from 490,000 last year (active customers are defined as having shopped in the last 6 months).

This strong performance reflects our strategy and the investments we have made, and continue to make, across the business to support our ambitions of becoming the UK's market leader in online fashion.

We remain positive about the long term prospects for ASOS and the future of online shopping in general. We believe our business dynamics and customer base should be resilient to the wider economic issues and that online shopping will continue to gain market share. That said, we face tougher second half comparables, and still need to trade through the all important Christmas period before we can accurately assess our performance for the full year.

We will provide a further trading update with the interim results, for the six months ended 30 September 2008, to be released on 17 November 2008

very long time since you will have seen me suggest buying a high street stock, let alone one fashion orientated, but now you do! ...... from a tart who can't read a balance sheet, these results and forecast look stunning ...... though the reaction to last night's senate vote has been muted at best, i think you will find the markets reacting sharply northwards during the coming days, even if that is short-lived .....

ASC sp has tumbled sharply in the last few days, so i have just bought at 320

looks as though i may have been a little premature in that, but if 300 hit (200 dma) shall top up

Catching a falling knife eh?

dangerous in these markets .

Good luck.

not exactly as i did not hold them before .... indeed made some money on short tack a couple of weeks back when they were just below 400

in fact, i see i am now in the money, so perhaps not so dumb after all, but we shall see

good luck cynic

Asos is the hottest retailer in a decidedly icy sector. Analysts expect much from the company, hence it trades on a multiple of 29 times earnings for the current year - far higher than high street retailers. Yesterday's trading statement, which showed an acceleration in already phenomenal sales growth, gives more ammunition to the bulls. There is little margin for error, especially in the face of the credit crunch. But given that Asos has no direct competitors its size, and internet shopping is forecast to boom, the stock looks set to get even hotter, writes the FT.

and of course it is not impossible that some predator will get greedy, but that is no reason to buy

Bought a few myself earlier cyners.

looking for a short term gain.

you aren't one of these bloody short term opportunists and speculators i hope - lol!

Looks good update to me and with a buoyant Christmas expected ahead I'm staying put. May be tempted to add at round these levels. As someone indicated earlier for a growth stock I don't consider it over priced.

sos celebrates most profitable day to date

Published: 02 October 2008 16:22
Last Updated: 02 October 2008 16:22
Reader Responses


Fashion e-tailer Asos enjoyed its most profitable day to date on Tuesday, in stark contrast to dire performances being reported by high street retailers.
Asos's record-beating one-day performance came in the wake of a stellar six months – sales leapt 104 per cent in the period to September 30.

Chief executive Nick Robertson said that Asos's success was due to a combination of factors. The e-tailer's young fashion customers are proving ready to spend in the downturn, and bad weather taking sales off the high street.

Robertson said: "Young fashion is more resilient and expectations that online will be 10 per cent of fashion sales in the next two to three years is benefiting us."

He emphasised that no retailer can be totally immune to the downturn, but said that "all things being equal", Asos expects a very strong Christmas.

Robertson also said that more retailers were poised to start selling on Asos's site as they realised they could do so without cannibalisation.

The e-tailer had 3.9 million unique users in September and registered users now number 1.83 million.

SELL Asos...it is going downhill quickly...290p now

sp totally clattered ..... confess i did not have the balls to short them the other day ..... silly really; psychologicallyt much harder to short than to go long

wow...260p now...real fast drop.

has been as low as 251 this morning

236 now...ASOS is crashing surprisingly.

hlyeo there is a institutional distressed seller in need of cash forcing the price down see todays rns re d/bank.

deutsche bank has been under presure and offloading shares in all sorts of companies for months, though of course Germany does not have a banking crisis - much! ..... just like neither France nor Germany had BSE