ASOS was one of the Christmas winners this year, reporting a UK sales rise of 23 per cent to £56.3 million in the three months to 31st December. International sales were the real bright spot for the company, with sales accelerating 156 per cent to £43.7 million. In an interview with the BBC this morning, ASOS chief executive Nick Robertson said he acknowledged that the UK was currently “a tougher place to do business”, but added that “the world is getting smaller and we’re taking advantage of that”, as evident by its stellar international performance.
HMV is trading “perilously close” to its solvency limits, writes the Guardian. According to the article, key suppliers to the entertainments products chain have been denied credit insurance, leading them to write to “record labels and publishers demanding a pledge that, should HMV go bust, any bad debts they incur will be covered.” Today the newspaper reported that shares have tumbled 13 per cent at HMV, further fuelling the crisis. In a statement issued this morning, HMV said: “We continue to maintain excellent relations with our suppliers and have had no difficulty in obtaining stock.”
Revenue at Comet fell 6.5 per cent (in local currency) in the third quarter, reports French parent company Kesa. During the period from 1st November to 8th January, like-for-like sales at the electricals retailer slumped 7.3 per cent. Kesa said Comet delivered “record trading” between Boxing Day and New Year, but this failed to offset the negative impact of the snow on pre-Christmas trading. Teething problems from a new software platform introduced in November meant online sales only grew 3 per cent in the period.
The Furniture Report writes that liquidators have been appointed at online retailer FurnitureToday.
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