Home / Knowledge / News / Apparel/Garments / Fashion retailer ASOS posts 34% sales hike in 6M to Feb 28
Fashion retailer ASOS posts 34% sales hike in 6M to Feb 28
19
Mar '14
ASOS plc released the trading statement for the two months and six months ended 28 February 2014.
 
Two months to 28 February 2014 highlights 
Retail sales +26% year on year (UK +21%, International +29%)
International retail sales 65% of total (63% last year)
Retail gross margin down c.30bps on prior year
 
Six months to 28 February 2014 highlights 
Retail sales +34% year on year (UK +32%, International +35%)
International retail sales 61% of total (61% last year)
Retail gross margin up c.60bps on prior year
8.2 million active customers at 28 February 2014 (+36% year on year)
Strong balance sheet and cash position
 
Nick Robertson, CEO, commented, “The Group delivered strong sales and margin growth over the first six months of the year (+34% and +60bps respectively) and we are now confident of achieving £1bn of sales in FY 2013/14.  We ended the period with 8.2 million active customers, a 36% increase year on year.
 
“Retail sales for the two months to February were strong in all territories except Rest of World where we experienced adverse currency movements, notably in Australia and Russia.   
 
“We have accelerated our investment in warehousing (both in the UK and Germany) and in IT, so that we will invest at least £68m in capital expenditure in the current year (previous guidance £55m.) This investment will increase our sales capacity to c£2.5bn per annum, over £1bn higher than previous guidance. Our investment in warehousing necessitated levels of dual running costs over the period which will ease from H2 2014/15.
 
“This investment, as well as the investment in our China start-up, will reduce our EBIT margin for the current financial year to 31 August 2014 to c.6.5%.  This year these costs will be disproportionately borne in H1, resulting in a likely H1/H2 Profit before Tax split of approximately 30%/70%."
 
Click here to view full results. 
 
 

ASOS plc

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X