Today Asos has demonstrated that it’s still leading the fashion pack with soaring pre-tax profits and rising sales both at home and away.

Asos boss, online clothing aficionado Nick Beighton, said the business has “reinvested FX tailwinds” in the year to August 31, after benefiting in its international arm from currency fluctuations.

But that’s not to say that the retailer hasn’t been fiercely proactive to plump its own fortunes during the period.

Its differentiated customer proposition has allowed it to hold firm in a competitive UK market while it has invested in a ramped-up technology platform, added new payment methods and started to build new language sites.

With this and the outcome of the Brexit vote helping Asos to pull away from its rivals, it has reaffirmed its ambition to become “the world’s number-one destination for fashion-loving twentysomethings”.

Elsewhere today, co-founder of Flying Tiger Copenhagen Philip Bier has rejoined the Scandi business less than a year after selling his stake, and Footasylum has confirmed its IPO.

Quote of the day

”The brand is far from saturation in, for example, Greater London and the South and along the M62 corridor, so lots of opportunities for growth.”

– Philip Bier commenting on the growth potential of Flying Tiger Copenhagen after rejoining the business 

Today in numbers

2.2%
Tesco’s rise in grocery sales in the month to October 7, according to the latest supermarket data from Nielsen

£150m
The estimated listing value of Footasylum, gearing to float on Aim next month

Tomorrow’s agenda

No planned updates tomorrow – check in with us for the latest news and analysis.

Emily Hardy, senior reporter

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