Asos chief executive Nick Robertson and his management team have cashed in £94.1 million shares after stellar results that have set them on course to reach £1 billion in sales next year.
Its sales rose 39 per cent to £769.4 million in the year to the end of August and pre-tax profit rose 37 per cent to £54.7 million. Shares in Asos have more than doubled in the past 12 months, reaching a peak of £57 last month.
Robertson plans to give £2.8 million to Asos's 1,300 staff as a one-off bonus.
He said this week that the success of online shopping was in part because 20-somethings 'could not think of anything worse' than shopping on Oxford Street on a Saturday afternoon. He described Asos as the 'gateway' to the 20-somethings market for other retailers and insisted it was 'not a threat'.
He added that the firm was still evaluating the results of its online trial with Primark earlier this year but held concerns that the product value was too low to cope with the cost of postage and returns.
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