United Kingdom : 4M to Dec 31 sales at UK online fashion retailer Asos soar 36%

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Home / Knowledge / News / Apparel/Garments / 4M to Dec 31 sales at UK online fashion retailer Asos soar 36%

4M to Dec 31 sales at UK online fashion retailer Asos soar 36%

16
Jan '17

Courtesy: Asos

In the four months ended December 31, 2016, group revenue at UK online fashion retailer Asos soared 36 per cent to €621.3 million as against €457.1 million in the corresponding period of the prior fiscal. Of this, retail sales surged 36 per cent on a reported basis and 30 per cent on a constant currency basis, as investments continued to gain traction.

Sales were primarily driven by strong performance in the UK with retail sales growth of 18 per cent, while global retail sales accelerated 52 per cent aided by the reinvestment of the FX tailwind.

However in the period under review, retail gross margin dropped 30 basis points (bps) over the comparable period of earlier fiscal.

In the reporting period, the online fashion retailer shipped 15.5 million orders, up 35 per cent over a fiscal ago period.

Following reinvestment of FX and US duty benefits largely into price, Asos raised the reported sales growth guidance for fiscal 2017 to between 25 and 30 per cent. (AR)

Fibre2Fashion News Desk – India

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