The Asos PLC (LON:ASC) online fashion phenomena continued with an upbeat sales forecast, although the retailer had downbeat news on margins.
Asos said it expected a full-year sales increase at the upper end of the 20%-25% range after a strong performance in the four months to June 30.
But the group blamed a 180 basis-point fall in its retail gross margin partly on moving its main sale forward one week into this financial period.
The timing of the sale accounted for about 40% of the decline while the rest was due to cutting prices.
Chief executive Nick Beighton said: "Our retail gross margin guidance of up to 50bps of investment remains unchanged and we remain confident in delivering current market pre-tax profit expectations for the year."
Overall retail sales in the period rose 30% or 26% at constant currencies. International sales, which made up 59% of the total, increased by 31% or 25% at constant currencies. UK sales rose 28%.