Member Article

Asos plow ahead of retail rivals

Online fashion retailer Asos has maintained its sizeable sales growth across the UK and abroad.

US sales increased 57% on the same quarter last year, and UK sales increased by 24%. It continued the strong trend that Asos has experienced over the last few years.

In total, international sales grew 63%, and the company opened offices in the USA, France and Germany.

CEO Nick Robertson 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.

“We achieved +57% growth in the US, +42% growth in ROW, and +15% growth within the EU. 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.”

This was posted in Bdaily's Members' News section by Tom Keighley .