Online fashion retailer ASOS plc (LON:ASC) said its investment in price was paying off as it reported a 36% rise in sales in the four months ended December.
For price investment, read price cuts, which were enacted to maintain and extend the company’s position as one of the world’s most successful ‘e-tailers’.
The international business did particularly well with a 52% increase in revenues, boosted by the weak pound.
"Following record sales over cyber weekend and the Christmas trading period, I'm pleased to report a strong start to the year,” said ASOS chief executive Nick Beighton.
“A 50% plus increase in international sales is a standout performance.”
In the update, ASOS said it “remained confident” on meeting profit expectations for the current year.
It forecast 2017 top line growth of 25-30%, while over the medium term that should moderate to 20-25%.