However, the online fashion retailer revealed a drop in sales in the three months to May. Fast fashion giant Asos has hailed a return to profitability over the past quarter as it pushes ahead with major cost-cutting as part of its turnaround plan. However, the online retailer revealed a drop in sales in the three months to May as consumer spending remains under pressure. Asos has suffered slumping sales over the past year amid waning customer demand in the face of rocketing household bills, and has also experienced supply disruption and surging costs. As a result, the company said on Thursday that it has secured £200 million of cost savings and profit efficiencies so far this financial year as part of its recovery plan, and is on track to meet its £300 million target.