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Sales at ASOS climb 30% in Mar-June period
13
Jul '16
For the four months to June 30, 2016 period, retail sales at UK online fashion retailer ASOS climbed 30 per cent over the same period of the prior fiscal.

In a trading statement, the fashion retailer said its retail sales soared to €500.5 million in the reporting period from €386.0 in the comparable period of previous fiscal, up a steep 30 per cent.

International retail sales surged to 59 per cent of total sales, in line with last fiscal, while retail gross margin was down 180 basis points (bps) due to sale phasing and planned price investment.

UK growth remained strong at 28 per cent and also saw further acceleration across the US, EU and ROW segments.

At the end of June 30, 2016, ASOS had 12 million active customers, up 24 per cent year over year and also witnessed a strong balance sheet position

CEO Nick Beighton said, “I am pleased to report strong retail sales growth of 30 per cent over the four months to June 30, 2016, underpinned by our continued price and proposition investments.”

“We now anticipate full fiscal sales growth at the upper end of the 20-25 per cent, while our retail gross margin guidance of up to 50 bps of investment remains unchanged,” he added. (AR)

Fibre2fashion News Desk - India

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