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

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Urmil Arya

Sushila International, a well established textile organisation established ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search