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

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Central banks want politicians to take charge – but what will they do?
US Economy

Central banks want politicians to take charge – but what will they do?

The US Federal Reserve has come to the end of the road in terms of what it can do to accelerate any recovery, says John Stepek. It's over to the polit…
17 Sep 2020
IAG's share price is ready for take-off - here's how to play it
Trading

IAG's share price is ready for take-off - here's how to play it

The owner of British Airways has had a turbulent year, but is now worth a punt. Matthew Partridge explains the best way to play it.
8 Sep 2020