Asos has posted a slowdown in sales growth, after the strong pounded dented its international business.
The web retailer reported an 8% rise in sales for the three months ending 30 November, down on the two previous years when sales growth averaged more than 30%.
UK sales performed well, climbing 24% in the first quarter, but international retail sales declined by 2%, reflecting difficulties with price competitiveness.
Asos has invested the £6.3m insurance payout from the fire at its central distribution warehouse in Barnsley this summer into its ongoing project to lower prices overseas, which it hopes will buck this trend.
“We have commenced investment into our international pricing and have started to roll out our zonal pricing capability, which combined will help us to address our international performance,” said Asos CEO Nick Robertson.
“We continue to focus on our major investment programmes, upgrading our IT platform and investing in our logistics capability.”