ASOS Sees Brexit Benefit

Online fashion retailer Asos, has said that it expects to profit from the recent Brexit vote in the United Kingdom.After the vote to leave the EU last month, the strong decline in the strength of the pound has meant that it sits at a 31-year low against the dollar.However, due to over half of sales coming from outside the UK, the lessening demand for items in its home country will have minimal effect on the business.Asos CEO Nick Beighton said that benefits would be seen due to the fact that prices on the site are denominated off sterling, so “now look cheaper to the American and European customer”.