REPORT_ Retail sales of Asos increased over 25 percent year-on-year in the three months ended May 31, 2014. Sales in the UK increased over 43 percent. International retail sales were up 62 percent of total compared to 67 percent last year.
Commenting on the financial development, Nick Robertson, CEO, said, “Retail sales for the quarter were strong, increasing by 25 percent or over 33 percent at constant exchange rates with particularly strong growth in the UK of 43 percent. However, Sterling’s continued strengthening has resulted in a slowdown in our international sales growth to 17 percent or over 28 percent at constant exchange rates.
The resultant higher mix of UK and European sales, with lower retail margins, together with increased levels of promotional activity, has led the company to reduce its EBIT margin guidance to 4.5 percent from 6.5 percent for the current financial year.
Asos is a fashion destination selling over 75,000 branded and own-brand products through localised mobile and web applications, delivering from its UK hub to almost every country in the world. It runs nine local language websites in the UK, US, France, Germany, Spain, Italy, Australia, Russia and China.