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Back in vogue? ASOS beats Christmas forecasts

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01/23/2020 | 08:22am EST

UK online brand ASOS is starting to look good again, after reporting bumper Christmas and Black Friday sales numbers.

A 20% rise during the last four months of last year to $1.41 billion dollars beat expectations

and meant a much happier end to 2019 for ASOS,

which had been bogged down with operational and warehouse issues, leading to a profit warning last July.

The encouraging signs come despite poor Christmas numbers for traditional high street retailers.

Many of whom including John Lewis and Marks and Spencer struggled as consumers steered away from major purchases amid the UK's recent political and economic uncertainty.

ASOS Chief Executive Nick Beighton said he was "encouraged by the progress." ASOS had made.

Shares jumped 11% on Thursday morning before falling back

with the company - which targets the 20-something market - saying its outlook for 2020 remains unchanged.

ASOS still trails someway behind its main UK rival Boohoo.

it lifted its own full-year guidance last week

and over the past year has seen a share rise of 70%.

Stocks mentioned in the article
ChangeLast1st jan.
ASOS PLC 1.01% 3287 Delayed Quote.-2.55%
BOOHOO GROUP PLC 0.03% 327.1 Delayed Quote.9.80%
FLAGSTAR BANCORP, INC. -0.03% 35.31 Delayed Quote.-7.69%
MARKS & SPENCER GROUP PLC -1.56% 183.35 Delayed Quote.-14.12%
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