A double digit UK sales rise and continued strong growth in international markets meant e-tail fashion business Asos.com achieved a market beating performance for its third quarter, according to results released today.
Group revenues were up 45 per cent in the three months ending December 31st 2011, with total retail sales increasing by 46 per cent year-on-year and the dampened UK market delivering a sales improvement of 10 per cent.
While other domestic retailers would be happy with single digit revenue rises given the low consumer spending which permeates the current trading environment, Asos has achieved both strong sales and a large improvement in margins during this crucial period of business.
Nick Robertson, CEO of Asos, said: “I am pleased to report a strong third quarter performance across all territories including the UK. Overall retail sales were 46 per cent up year-on-year and our retail gross margin was 300bps higher over the period, in line with guidance.”
International sales soared 93 per cent higher than Q3 last year, with decent trading within the EU (+33 per cent) bolstered but triple digit growth in the US and its operations in the rest of the world – up 146 per cent and 179 per cent respectively.
Asos now claims to attract 18.5 million unique visitors per month to its websites with customers in 191 countries, and international sales now make up 58 per cent of the British based company‘s total sales mix.
Robertson added: “With the business continuing to perform well through these challenging economic times, we remain confident about the outlook and expect our full year results to be in line with market expectations.”