STYLISH male customers helped online clothing retailer ASOS almost double its annual profits.
The company, which targets young adults with clothes based on outfits first worn by celebrities, said fashion was “just as important” to men as to women – as menswear sales rose by about 60% in the year to March 31.
Shares in ASOS, which has websites in seven countries and ships to a further 190 nations from the UK, closed 8% or 133p higher at 1644p after the retailer revealed a 93% increase in bottom-line pre-tax profits to £30.3m.
The group, which attracts almost 17.5m unique visitors a month and has 8m registered users, lifted retail sales by 49% to £481.6m.
The group’s four top executives will get shares worth £57m under a three-year bonus plan.
