Asos concluded a strong year with a four-month autumn and festive period that showed just how strong a business it is. Sales soared not just in the UK but globally and it expects higher profit as a result.
Online retailers have boomed during the pandemic and that means warehouse expansion has been significant. The latest name to announce new capacity is Asos that plans to invest £90m in radically expanding its UK space.
The Asos final results report Wednesday was another confirmation of just how important pureplay e-tailers have been in the unusual circumstances of 2020. As store-based rivals struggled, its sales and profits soared.
The company has named Patrik Silén its Chief Strategy Officer, reporting to CEO Nick Beighton, the appointment being the third in a series of new hires “designed to strengthen the senior management team”.
Asos had plenty to talk about on Tuesday evening as it updated the markets on the coronavirus impact, released half-year results and announced it's raising extra cash. The overall message was one of strength.