Strong sales at ASOS and Domino's

Domino's pizza defies gloom with upbeat trading figures

Two firms - a fashion retailer and a pizza firm - have bucked the trend and seen solid sales recently, despite the economic slowdown.

Online fashion firm ASOS saw sales more than double in the six months to 30 September, compared to the same period a year earlier, a trading update shows.

Meanwhile Domino's Pizza saw sales up 8.8% year-on-year in the third quarter.

Both companies remain positive in their outlook and expect strong growth to continue, as consumers seek out deals.

Despite the good news, shares in both companies slipped 2% during morning trading.

Online shopping will continue to gain market share Nick Robertson, chief executive, ASOS

Many firms have been hit as consumers try to tighten their belts, following higher fuel prices and mortgage costs.

However ASOS, which has its own brand clothing as well as discounted designer labels, has benefited from solid demand from young customers and a shift to online spending.

Chief executive Nick Robertson said: "We believe that our business dynamics and customer base should be resilient to the wider economic issues and that online shopping will continue to gain market share."

Domino's has also benefitted from consumers' desire to save money, as eating at home becomes increasingly attractive.

James Cooke, an analyst at Panmure Gordon stockbrokers, said: "Despite the slowing of the economy and squeeze on consumer spending, Domino's Pizza continues to see organic growth in the business".