ASOS has lowered its forecast for its full financial year after falling significantly behind its original expectations in November.

In the three months up to November 30th, revenue grew by 14% to £656 million as retail sales climbed by 13% to £640 million.  The first quarter saw UK sales rise by 19% to £237.1 million, achieved by more promotional activity that originally planned.

According to the retailer, trading in September and October was in line with expectations but fell severely in November due to the weakening in consumer confidence.

Nick Beighton, ASOS chief executive, said: “We achieved 14% sales growth in a difficult market, but in the light of a significant downturn in November, we think it’s prudent to recalibrate our expectations for the full year. We are taking all appropriate actions and our ambitions for ASOS have not changed.”