Asos reports strong trading with 30 per cent sales growth

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.

The group had 5.4m active customers at November 30 2012 representing a 35% increase year-on-year.

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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