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UK sales drive 8% growth at fashion etailer ASOS
Dec '14
Driven by UK sales but let down by international sales, online fashion retailer, ASOS managed to post a sales growth of 8 per cent year on year in the three months ending November 30, 2014.

Although international sales dropped by 2 per cent to £141.5 million, UK retail sales surged 24 per cent to £104.8 million over the same period in its first fiscal quarter.

ASOS posted an 8 per cent overall sales growth over the first quarter of previous fiscal to reach £246.3 million in the reporting quarter.

Black Friday sales helped push the online fashion retailer to its busiest weekend of trading.

According to its CEO Nick Robertson, Black Friday was its biggest day it has ever had and at one point the etailer was taking seven orders per second.

Earlier this year, ASOS was hit by a fire at its Barnsley warehouse, which damaged around £20 million in stock.

ASOS has received an insurance claim of £6.3 million in the period, which it expects, would help maintain full-year profits in line with expectations.

Robertson adds, “We have commenced investment into our international pricing and have started to roll out our zonal pricing capability, which combined will help us to address our international performance.

“We continue to focus on our major investment programmes, upgrading our IT platform and investing in our logistics capability.”

The etailer sells over 75,000 branded and private-brand products to almost nine million customers across UK and many other countries.

In recent months, ASOS has been hit by fluctuations in major currencies in the overseas markets it operates in, thereby hitting its profitability. (AR)

Fibre2fashion News Desk - India

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