Online fashion retailer Asos.com has posted a strong 69 per cent increase in total retail sales for its first quarter period, it was announced today.
Successful global expansion was key to this growth, with international sales up 160 per cent year-on-year for the UK based e-tailer, during the three months ending June 30th 2011.
Trading the in the UK market, where it is now well established, was also healthy with domestic sales rising by 15 per cent compared to the same period last year.
Nick Robertson, CEO of Asos, said: “I am pleased to report a strong first quarter performance with retail sales up 69 per cent to £104 million.
“International sales now represent 57 per cent of the total up from 51 per cent in the last quarter.”
US operations, launched during the trader’s last financial year, saw sales rise 151 per cent during the quarter but the largest growth was in its rest-of-the-world segment which delivered a sales boost of 353 per cent, whilst EU sales climbed 80 per cent year-on-year.
A new single warehouse facility in Barnsley was completed on budget and ahead of schedule during Q1, which should now help enhance its UK distribution system.
Group revenues exceeded £107 million in the period and retail gross margin is apparently in line with previous guidance.
Robertson added: “The new financial year has started well and we remain positive in our outlook for 2012, with progress to date in line with expectations.”