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Summary:
ASOS has seen business soar in lockdown, but can it thrive as hospitality re-opens and its core demographic puts on their glad-rags?
Nick Beighton
A 275% jump in profits and first half sales that hit a record £2 billion - that s the good news from e-commerce retail pureplay ASOS, but not good enough to dispel concerns about the impact of lifting of COVID lockdowns on future prospects.
ASOS is among those retailers to have had ‘a good war’ during the pandemic. In some ways it’s almost been emblematic of the shift in power in the sector as the online-only firm snapped up Topshop, Topman, Miss Selfridge and HIIT from Philip Green’s collapsed Arcadia group for £265 million back in February, taking the iconic brands off of the high street and into a digital-only future.