Home / Knowledge / News / Apparel/Garments / ASOS six months ended Feb 28 retail sales boost 34%
ASOS six months ended Feb 28 retail sales boost 34%
03
Apr '14
Global Online Fashion Destination, ASOS plc announces Interim results for the six months ended 28 February 2014.
 
 Highlights
-Retail sales up 34% (UK retail sales up 32%, international retail sales up 35%)
-8.2 million active customers at 28 February 2014, up 36% on prior year
-Retail gross margin up 60bps
-Accelerated investment in IT and warehousing; full year capex of £68m
-Profit before tax of £20.1m (2013: £25.7m) 
 
Nick Robertson, CEO, commented, “I am pleased to report another strong trading performance for the six month period, with retail sales up £120m to £472.3m, a 60bps expansion of retail gross margin and growth of 36% in our active customer base to 8.2m. Customer engagement remains high with growth in visits, conversion and average basket value. We are now investing in the capacity to support a truly global business with sales of £2.5 billion as the next staging post on our journey.
 
This continued strong growth was achieved at the same time as acceleration in our investment in logistics, our IT platform and our overall customer offering, whilst also continuing to invest in our China start-up. Our £68 million investment during the current year will more than double the sales capacity with greatly enhanced efficiencies at our UK warehouse, a new Eurohub in Berlin, an expanded facility in Ohio in the US and a new warehouse in Shanghai.
 
 This increased pace of investment has reduced our profitability in the period, but will deliver significantly increased capacity as well as efficiencies in the longer term. ASOS is not and has never been about the short-term; the scale of the global opportunity remains as exciting as ever and we are investing for the many opportunities ahead.”
 

ASOS plc

Must ReadView All

Courtesy: NEJ

Apparel/Garments | On 24th Jan 2017

NEJ fully acquires Bills Khakis from Source Capital

Provider of reverse logistic excess inventory solutions for specialty ...

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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