Home / Knowledge / News / Apparel/Garments / Asos sales up 14% in first three months of fiscal 2019

Asos sales up 14% in first three months of fiscal 2019

Dec '18
Courtesy: ASOS
Courtesy: ASOS
The sales of Asos in the first 3 months of fiscal 2019 grew 14 per cent on a reported basis and 13 per cent on a constant currency basis. Although the company delivered solid growth in sales, it experienced a significant deterioration in November and conditions remain challenging. As a result, it has reduced its expectations for the current financial year.

"Whilst trading in September and October was broadly in line with our expectations, November, a very material month for us from both a sales and cash margin perspective, was significantly behind expectations. The current backdrop of economic uncertainty across many of our major markets together with a weakening in consumer confidence has led to the weakest growth in online clothing sales in recent years. We have recalibrated our expectations for the current year accordingly," Nick Beighton, CEO, said.

In the UK, Asos continues to materially outperform in its home market with sales growth YTD (September 1 through November 30) of 19 per cent, although this has been achieved at the cost of more promotional activity than initially planned and consumers buying into lower priced product.  

Turning to the EU, sales growth across this segment was more than18 per cent YTD. Trading conditions across our two largest markets of Germany and France, which account for c.60 per cent of EU sales, have become significantly more challenging, with the performance of these two countries at 15 per cent YTD. Some more encouraging performances were seen across a number of the other EU countries, particularly those in which we have recently launched more localised experiences, and the performance of the EU segment excluding France and Germany is 24 per cent YTD.

The US performance at 13 per cent YTD has largely been in line with our expectations as we have been testing our new operation in Atlanta as it moves to 100 local fulfilment during the course of the current financial year. Discounting activity over the Black Friday period was very significant, a trend it did not follow.

"We achieved 14 per cent sales growth in a difficult market, but in the light of a significant downturn in November, we think it's prudent to recalibrate our expectations for the full year. We are taking all appropriate actions and our ambitions for Asos have not changed," Beighton said. (RR)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Textiles | On 8th Aug 2020

Pandemic causes trade decline, dips commodity prices: IMF

Current account surpluses and deficits narrowed modestly in 2019, and ...

Pic: Shutterstock

Textiles | On 8th Aug 2020

Pak ministry working to get textile policy cleared by ECC

Pakistan's commerce ministry is busy trying to get the Textile Policy ...

Pic: Hermès International

Fashion | On 8th Aug 2020

Hermes Int H1 FY20: revenues €2,488 mn; net profit €335 mn

Hermes International SA, a French high fashion luxury goods...

Interviews View All

Anavila Misra, Anavila Collection

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Textile Industry, Head honchos

Textile Industry
Head honchos

Social media critical in regeneration of businesses

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Will Qian,

Will Qian

Honghua Digital Technology Stock Co., Ltd. specialises in the R&amp;D,...

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

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

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

July 2020

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

Advanced Search