Asos has overtaken high street bellwether Marks & Spencer in market value, and it’s set to continue racing ahead to cement itself as one of the UK’s most valuable retailers. According to Reuters data, the online retail giant – which was founded only 17 years ago – reached £5.06 billion in market value at closing last night, exceeding heritage retailer M&S’s £4.89 billion. Meanwhile, the London Stock Exchange (LSE) estimated Asos’ market cap at £5.048 billion, while M&S was £4.89 billion.
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Asos overtakes M&S in market value