Fashion retailer ASOS posts 37% hike in Q2 FY'13 sales

Q2 Highlights

- Retail sales +37% year on year (UK +28%, International +45%)

- International sales 59% of total (57% last year)

- Retail gross margin down c.50bps on prior year (+350bps in Q2 2011/12)

- 6 million active customers at 28 February 2013 (+40% year on year)

H1 Highlights

- Retail sales +34% year on year (UK +26%, International +39%)

- International sales mix 61% of total (59% last year)

- Retail gross margin down c.60bps on prior year (+400bps in H1 2011/12)

Nick Robertson, CEO, commented:

"I am delighted with our robust first half performance and pleased to report strong trading for the three months to 28 February 2013 with total retail sales of £186m, up 37%, resulting in first half retail sales growth of +34% to £352m.

Our UK performance remained ahead of expectations at +28%, with particularly strong trading during the peak December period. Our International business grew by +45% and now accounts for 59% of our total retail sales. Our EU growth continues to be driven by strong performance in those countries where we have dedicated websites and particularly by our new in-country teams in France and Germany.

The strength of our UK performance continues to put pressure on our achieved retail gross margin. We expect this to improve during the remainder of the financial year as we annualise last year's price investments and achieve planned sourcing gains.

We remain positive in our outlook for the year to 31 August 2013 and continue to trade in line with expectations."

ASOS is a global online fashion and beauty retailer and offers over 60,000 branded and own label product lines across womenswear, menswear, footwear, accessories, jewellery and beauty with approximately 1,500 new product lines being introduced each week.

ASOS