Online fashion chain Asos reported strong trading results at the end of the quarter ending November 30th with total retail sales up 30 per cent.
UK retail sales rose 24% to £62m from £49.9m in the corresponding period last year. US retail sales jumped 57% to £19m from £12m and EU retail sales rose 15%. International sales accounted for 63% of the total, compared to 61% last year and in-country offices opened in the USA, France and Germany.
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Nick Robertson, Chief Executive Officer of Asos, commented: "I am pleased to report strong trading for the three months to 30 November 2012 with total retail sales up 30% to £166m. Our UK performance was ahead of expectations at 24%, driven by better conversion of traffic alongside continued investment in both our proposition and pricing. Our International business grew by +34% and now accounts for 63% of our total retail sales."
"The retail gross margin performance reflects a combination of a particularly strong comparative period, the UK accounting for a larger percentage of the total retail sales mix than initially planned and continued price reinvestment. We remain positive in our outlook and continue to trade in line with expectations."
MF
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