Nick Beighton, chief operating officer at Asos (ASC), has snapped up 22,150 shares in the company, at 2,249p apiece, costing him £498,290. The purchase boosted his holding in the company by 17 per cent and was transacted on 21 October - the same day he was promoted to his current role, from his previously held post of finance director.
The move might be interpreted as a vote of confidence in the online-only retailer, following a year of turmoil. Asos is in the middle of a massive investment programme to cope with rising sales. That's disrupting trading and increasing costs, although it should yield significant benefits in the future. Mr Beighton's new role will free up chief executive Nick Robertson to focus on the company's growth strategy, customer experience and marketing.