Asos provides Q4 update with 15 percent rise in total sales

Tuesday, 16 September 2014

REPORT_ Providing financial results for the three months ended August 31, 2014, Asos said its total retail sales increased over 15 percent, with sales in UK increasing over 33 percent and international retail sales witnessing a rise of over 6 percent. International retail sales now contribute 59 percent of total sales compared to 64 percent last year. Retail gross margin was down 640 bps on prior year. Active customer base on Asos increased over 25 percent year-on-year to 8.8 million.

Commenting on the financial update, Nick Robertson, CEO, Asos said, “Our UK performance remained strong over the final quarter, with sales increasing 33 percent. Our international business grew 6 percent or 14 percent in constant currency. However, due to the fire at our Barnsley distribution centre, we lost sales during the quarter of between 25 million pounds (40.5 million dollars) and 30 million pounds (48.6 million dollars) with a retail gross margin impact of 200 basis points. After adjusting for insurance proceeds, we expect profit before tax for the year to be in line with market expectations.”

Annual retail sales at the end of August 31, 2014 were up over 27 percent, with over 35 percent increase in UK and over 22 percent in international retail sales. International retail sales contributed 61 percent of total the total retail sales compared to 63 percent last year. Retail gross margin was down 230 bps on prior year.

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