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 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Tony Ward
Tony Ward

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search