Topshop takeover fuels sales boom at Asos

Asos will report booming UK sales this week thanks to the return of socialising and its acquisition of Arcadia’s Topshop. 

Analysts predict it will announce that takings from British customers will rise 58 per cent year-on-year in the four months to June, when it updates the market on Thursday. 

Sales boom: Despite the reopening of shops, web sellers have continued to perform well, suggesting a permanent shift to online shopping

This will be well ahead of the group’s overall performance – including Europe, the US and the rest of the world – which will see growth of 30 per cent in the same period. 

The reopening of bars, restaurants and cafes from April 12 sparked a return to fashion as consumers ditched comfy tracksuits for going out clothes.

Despite the reopening of shops, web sellers have continued to perform well, suggesting a permanent shift to online shopping. 

Asos will also get a major boost from Topshop, which it launched on its website on February 22, making this week’s results the first where the brand fully features. 

Berenberg said that Asos would sell between £124m and £132.5m of Topshop clothes between February and August this year. 

Analysts at JP Morgan Cazenove said: ‘Asos will be a reopening winner.’