ASOS - As Seen On Screen - has posted 5 pct gains today as the online fashion retailer, whose stock was once as low as 3.6 pence soared to 983 pence on strong UK and international traffic to its website.
Reporting "scorching" sales in its quarterly update, the retailer posted strong international growth in US, Germany and France, whilst UK continued to grow up 32 pct.
"We have sold tens of thousands of maxi-dresses and the warm weather for the festivals has really helped sales of denim shorts and sandals." says Nick Robertson co-founder and CEO noting international sales are up 111 pct.
Evidence of increasing traffic to its website also confirms his statements as Jean Roche, Panmure Gordon analyst nudged up her pretax profits forecast to £27.1m.
According to Nick, Hitwise statistics for Asos.com found that the retailer was second only to Next in UK traffic statistics whilst American, French and German sites are all planed to launch from September this year as traffic to its website from these countries increase.
"I am pleased to report our strong sales momentum continued through the first quarter. Our retail sales are up 54% over the period, despite the impact of an extra week of sale activity in the comparable period last year.
"UK sales continue to perform strongly, up 32% and international sales, which now represent 37% of the total, remain robust at 111%.
"It is too early in the financial year to assume that these levels of sales will continue for the remaining three quarters; however we remain confident that this year will be another year of excellent progress." said Nick Robertson, who sold a fifth of his stake at £1.68 million yesterday.
Shares in the group are up 47 pence at 12:41 BST.