In Tech

ASOS confident on outlook as profit edges higher

UK online fashion retailer ASOS met forecasts with a 1 percent rise in profit for 2014-15, helped by demand for cut-price fashions abroad and strong trading in its home market.

The firm, whose founder, Nick Robertson, quit as chief executive last month, also said on Tuesday that trading in its new financial year had started well.

ASOS, whose fast fashion is popular with Internet savvy twentysomethings, forecast sales growth for the 2015-16 year of about 20 percent. "We remain focused on achieving our next staging post of GBP2.5 billion (USD3.87 billion) (of) sales," said Nick Beighton, who stepped up to CEO from chief operating officer on Robertson’s exit.

(Source: CNBC)

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