British online fashion retailer ASOS said today it expects full-year profit to be around the bottom of its guidance after weaker than projected August sales.

"Having seen good growth in June and July, sales in August were weaker than anticipated," it said.

"This reflected the impact of accelerating inflationary pressures on consumers and a slow start to Autumn/Winter shopping," it added.

The owner of rival Primark had warned this week that its customers' disposable income was declining and that higher costs will squeeze its profit margin in the next financial year.

Shares in ASOS, which have lost 78% in the past 12 months, were trading 0.5% up in early deals.

The company said that sales measured in constant currency for the year to August 31 would rise by about 2% while net debt would be about £150m, both below market consensus and company guidance.

In June it forecast full-year adjusted pretax profit between £20m and £60m.

It said it remained cautious about the outlook for consumer spending but is "managing the business for the current environment".