ASOS maintains heady rate of sales growth

The retailer, which targets young women looking to emulate the designer looks of celebrities like Nicole Scherzinger, Tulisa Contostavlos and Cheryl Cole, said on Tuesday its retail sales rose 30% to 165.8 million pounds ($266.5 million) in the three months to Nov. 30.

That compares with analysts' forecasts of about 29% and growth of 31% in the fourth quarter of the previous year.

ASOS, whose celebrity fans include United States First Lady Michelle Obama, said its retail gross margin fell 100 basis points year-on-year, reflecting a strong comparative period, the UK accounting for a larger percentage of total sales than initially planned and price cuts.