SMALL CAP MOVERS: Asos Wrestles apos;king Of AIM apos; Crown Back

The perpetual arm-wrestling match between the two leading junior market online retailers has resulted in Asos clawing back the 'king of AIM' crown.
In fact, the clothier is now worth £5billion, well above its rival Boohoo's market capitalisation of £4.2billion.
However, investors haven't been impressed lately despite strong festive performances from both companies, with shares moving slightly into the red this week.
Asos is now worth £5billion, well above its rival Boohoo's market capitalisation of £4.2billion
Asos, originally shorthand for As Seen On Screen, saw sales rise 23 per cent in the four months to December but the market is worried the momentum may not continue after lockdown, when people no longer turn to online shopping while stuck or bored at home.
Meanwhile Boohoo, whose revenues surged 40 per cent in the same period, is still crippled by last summer's governance scandal, which could result in further investigations or a rise in prices after turning to ethical suppliers.
RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/markets/article-9148515/Lockdowns-wipe-1bn-Primark-sales-Boohoo-booms.html Lockdowns to wipe £1bn off Primark sales... but Boohoo booms...] [/money/markets/article-9144093/Discounters-Just-Eat-deliver-virus-wreaks-havoc-High-Street.html Asos deifies Covid gloom as sales rise by 36%, with Just Eat...] [/money/markets/article-9148703/Sir-Brian-Leveson-publishes-report-Boohoos-supply-chain-overhaul.html Sir Brian Leveson publishes first report on Boohoo's supply...] [/money/markets/article-9122517/Joules-lose-18m-sales-trading-restrictions-happen-April.html Clothing and welly boot seller Joules says it could lose...] Share this article Share 'Asos has also been trying to jostle for a higher position on the sustainability billboard as a way to gain market share,' said Susannah Streeter, analyst at Hargreaves Lansdown.
'With its online rival Boohoo, trying to shake off a supply chain scandal, a focus on higher ethical standards might help it target the shoppers that it's so far failed to reach.'
Remaining in the e-commerce sector, N Brown slipped 9 per cent to 64p after posting a 9 per cent dip in sales in the 18 weeks to January 2.
Fellow fashion designer Sosandar also lost 9 per cent to 15p.

The company continues to be loss-making despite posting record results for the final quarter of 2020.
Turning to the wider market, the AIM All-Share was flat at 1,179 this week, outperforming the FTSE 100, cointiply which shed 1.8 per cent to 6,747 after an early January rally.
Sticking to the fallers, research and development company Online Blockchain tumbled 34 per cent to 54p, perhaps a victim of profit-taking after a 69 per cent jump the week before amid rocketing Bitcoin prices.
Elsewhere, robotic process automation specialist Blue Prism dropped 18 per cent to 1,545p after full-year revenue forecasts £170-180million suggested modest changes to market expectations, though investors may have wanted to see an upgrade after marking its fifth year of revenue growth.
Meanwhile, battery manufacturer Ilika also slipped 18 per cent to 197p after admitting demand for its Stereax miniature batteries is outstripping supply, so it will establish its own manufacturing operation to boost production capacity 70-fold by the end of the year.
Telecom services provider Toople fell 17 per cent to 0.09p after flagging a 'proactive approach to bad debts' that resulted in a charge of £1.1million, while the economic impact of Covid-19 is expected to be significant.
Turning to the risers, online competitions runner Best of the Best rocketed 67 per cent to 2,380p after lifting full-year profit before tax expectations after a stellar first half, with revenue and profits up 35 per cent and 80 per cent respectively.
Applied Graphene Materials shot up 63 per cent to 75p after flagging up a change to regulations by the European Chemical Agency that will allow members of the Graphene Reach registration consortium to supply higher quantities of materials.
Car competitions company Best of the Best rocketed 67% this week 
Elsewhere, Falanx jumped 34 per cent to 1p after expanding its cybersecurity service offering with the launch of Triarii, which has been piloted on Microsoft's Azure Sentinel platform.
In the pharma sector, Tiziana Life Sciences soared 39 per cent to 151p after hiring Dr Neil Graham, an industry veteran with experience of successfully developing a blockbuster monoclonal antibody product at Regeneron, as its chief medical officer.

Results of the biotech's Covid-19 treatment are earmarked for later this month.
Fellow drug developer Synairgen was a breath of fresh air, rising 18 per cent to 165p after dosing the first participant of the final stage of final trials for its inhaled formulation to treat Covid-19 patients.
The junior market will soon be joined by Canadian-listed mineral explorer Cornish Metals, which just announced its intention to float and expects to be admitted in February.


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