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

Most Popular

Bitcoin: fool’s gold or the new gold?
Bitcoin

Bitcoin: fool’s gold or the new gold?

With bitcoin hitting new highs last week, and close to becoming a mainstream investment, is it really gold for the 21st century?
15 Jan 2021
Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
The MoneyWeek Podcast: bitcoin special
Bitcoin

The MoneyWeek Podcast: bitcoin special

Merryn talks to bitcoin experts Dominic Frisby and Charlie Morris to get the lowdown on the cryptocurrency to find out why it's such a huge global phe…
15 Jan 2021
Free 6 issue trial then continue to