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ASOS's internatonal performance overshadows Cyber Monday

Last updated: 03:33 09 Dec 2014 EST, First published: 04:33 09 Dec 2014 EST

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Slower international sales overshadowed a bumper cyber weekend for online fashion retailer ASOS (LON:ASC).

UK orders rocketed between Black Friday and Cyber Monday, which chief executive Nick Robertson described as the firm’s “biggest ever trading week”.

The company slashed the price of goods at the end of November to cash in on the shopping hysteria.

Cyber Monday, which has become the top tech shopping day of the year, helped UK sales rise 24% to £104mln in the three months to November.

However, a 2% decline in overseas sales offset the results, with chief executive Nick Robertson describing international trading conditions as “tough”.

It has been a difficult period for the online retailer, which has issued three profit warnings this year.

A rising star once in the retail sector with its trendy fashion site, recently the company has been throwing money at its international operation to keep sales ticking over.

A fire at one of its three UK warehouses didn’t help matters and cost the company an estimated £30mln in lost sales and damaged over 20% of the company’s stock.

During the latest quarter, ASOS said it received £6.3mln of insurance proceeds related to the Barnsley blaze, which will go towards investment in international pricing.

“After taking this into account, we expect full year profits to be in line with expectations,” said Robertson.

He previously said pre-tax profit for the 2014-15 year would be similar to the 2013-14 outcome, which was £47mln.

ASOS shares fell 6% today and have declined 60% over the year.

They are now priced at 2,199p.

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