ASOS sales up by a third

Online fashion retailer ASOS said retail sales for the five months to August 31st rose by a third as it looks to roll out further international sites.

Retail sales rose 32% to £231m after a stellar performance from its international business. International sales, which now account for nearly two thirds of all sales, continued to underpin growth, rising 46%. The US was the fastest growing segment with retail sales up 72%.

Meanwhile rest of world sales rose 57% following a robust performance from Australia, Russia, Singapore and China. Retail sales at its mature UK business grew 13% during the period.

ASOS, which said it had 5m active customers at August 31st 2012, up 36% year on year, posted profit before tax and exceptional items of £13.2m, up 42% from the same period a year earlier.

Retail gross margin improved to 49% from 48.1% the year before and its overall gross margin also improved to 50.5% from 49.6%.

CEO Nick Robertson commented: "We remain positive in our outlook for 2012/13 as we continue our journey to becoming the number one online fashion destination for twenty-somethings, globally. Our International roll out continues."

"We've also made a number of high calibre appointments recently, including a new Chairman, Executive Director: Product and Trading, Chief Information Officer, Supply Chain Director and Marketing Director. Additionally we have secured territory managers for the USA, France and Germany. These appointments will underpin the continued development of the business, both in the UK and internationally," he added.

CJ