UK retailers report strong results Sports Direct, ASOS and Home Retail Group offered hope to the UK high street on Wednesday as they reported solid sales growth in the last quarter and said they were well prepared in the run-up to the crucial Christmas trading period. Online fashion retailer ASOS, which is on the brink of launching a dedicated website in China, reported a near-40 per cent year-on-year jump in its annual revenues to £769.4m in the 12 months to August 31. The retailer, which sells more than 65,000 branded and own-label products, shipped for free to 237 countries, reported a 37 per cent year-on-year increase in pre-tax profit to £54.7m. That compares with £44.5m for the same period a year earlier. The company said in September it was on track to hit its £1bn annual sales target one year ahead of schedule in the 2013-14 financial year. Chief executive Nick Robertson said ASOS had started the new financial year positively and would step-up capital expenditure investment to £55m in each of the next two years. "Our £1bn sales target is now firmly in our sights and we have stepped up our investment in people, technology, logistics and marketing to support the significant global potential of the business," Mr Robertson said. Britain's biggest sporting goods retailer Sports Direct said it was on track to meet its full-year earnings target, as it continued to reap the benefit of consolidating the UK sports goods market, for example acquiring 20 stores from failed rival JJB Sports almost a year ago. In its first trading statement since joining the FTSE 100 index in September, Sports Direct, which owns brands including Slazenger and Dunlop, reported a 15 per cent rise in second quarter sales. Group total sales for the nine weeks ended September 29 were up 15.1 per cent to £463.7m, while gross profit increased 19.4 per cent to £199.8m. Second quarter sports retail sales rose 14.8 per cent and jumped 75 per cent in its smaller premium lifestyle unit, helped by the acquisition in February of fashion retailer Republic. Dave Forsey, chief executive, said that trading has remained strong since the end of September. "The board is therefore confident of reaching the full-year internal stretch underlying ebitda target of £310m (before the charge for the Employee Bonus Share Scheme)," he said. Our £1bn sales target is now firmly in our sights and we have stepped up our investment in people, technology, logistics and marketing to support the global potential of the business Nick Robertson, ASOS chief executive The company's employee share incentive scheme saw 2,000 staff receive payouts this summer, with shop assistants on £20,000 a year netting more than £70,000. Home Retail Group, which owns catalogue retailer Argos and DIY chain Homebase, reported a 53 per cent jump in first-half profit to £24.7m as it said it was on track to deliver its turnround plan. The group said total sales in the six months to 31 August rose 3 per cent to £2.59bn, with Argos up 2.3 per cent and Homebase 5.9 per cent higher. Pre-tax profits fell to £14.2m from a restated £46.7m last year. Home Retail is updating its Homebase stores - which have seen profits decline for five years in a row - as well as revamping Argos. In September, it announced it was teaming up with eBay, to enable the online marketplace's customers to pick up goods from 150 Argos stores. Terry Duddy, chief executive, said he expected consumer spending will remain subdued, in the second half of the year. Whilst some macroeconomic indicators are improving, these have not yet led to an increase in household disposable income. Overall we are making good progress and are in excellent operational shape as we approach the key Christmas trading period," he said.