Wednesday, February 20, 2019

Asos total sales reach £165.8m


Fashion e-tailer Asos saw total sales in its first quarter rise 30 per cent to £165.8 million as it maintains its firm focus on international expansion, according to results released today.

In the three months ended November 30th 2012, UK sales increased 24 per cent on the same period last year to £62 million as total international sales soared to £103.7 million, up 34 per cent on Q1 2011.

As such, the international business now accounts for 63 per cent of total retail sales and over the quarter period, the e-tailer opened in-country offices in the US, France and Germany.

US retail sales grew 57 per cent to £19 million while European sales jumped 15 per cent over the period to £33.3 million and the rest of the world saw sales reach £51.3 million, a 42 per cent increase on a year previously.

As of November 30th, Asos has 5.4 million active users, a 35 per cent year-on-year boost while total group revenues grew 30 per cent to £169.4 million over the quarter.

Last month, the fashion site announced its investment Covetique, a second-hand luxury clothing site which offers items from the likes of Burberry and Chanel as it seeks to extend its brand offer.

Commenting on the strong results, Asos CEO Nick Robertson said: “Once again the performance of countries where we have dedicated websites was significantly better than the EU performance as a whole.

“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.”