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.

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.

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

Recommended

The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
23 Jan 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023
Investing trends to watch out for in 2023: what analysts say
Investment strategy

Investing trends to watch out for in 2023: what analysts say

What are sensible strategies for high inflationary times? We ask analysts to find out.
22 Dec 2022

Most Popular

Best savings accounts – February 2023
Savings

Best savings accounts – February 2023

Interest rates on cash savings are making a comeback. We look at the best savings accounts on the market now
3 Feb 2023
When will interest rates go up?
UK Economy

When will interest rates go up?

Interest rates are now at 4%, and they could rise further in the months ahead.
3 Feb 2023
NS&I brings back one-year fixed bonds with highest rates since 2010
Personal finance

NS&I brings back one-year fixed bonds with highest rates since 2010

NS&I’s one-year fixed bonds are back on sale after being pulled off the market in 2019 - but is the rate any good?
1 Feb 2023