Asos reports strong sales growth of 20 percent

Tuesday, 07 July 2015

REPORT For the four months to June 30, 2015, retail sales at Asos were up 20 percent. UK retail sales increased over 27 percent and international retail sales 16 percent. International retail sales are now 59 percent of the total sales compared to 61 percent last year. Retail gross margin was up 280bps on prior year. The company’s active customers as on June 30 increase 11 percent year-on-year to 9.7 million.

Commenting on the interim results, Nick Robertson, CEO, said, “Retail sales for the four months to June 30, 2015 grew by 20 percent and over 24 percent on a constant currency basis. Our continued international price investments underpinned our international sales growth of 16 percent and over 23 percent on a constant currency basis, despite a number of currencies weakening against Sterling.”

After accounting for our price investments during the period, the full year gross margin is expected to remain in line with last year, assisted by tighter inventory control and strong full price sales. The company anticipates that sales for the full year will be at the higher end of its guided 15-20 percent growth range. “We have increased investment in our people and our customer proposition, particularly in relation to free returns trials. We therefore expect EBIT margin to remain at the guided level of 4 percent,” added Robertson.

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