Home / Knowledge / News / Fashion / Six months sales at Asos gain 14%

Six months sales at Asos gain 14%

15
Apr '19
Pic: Asos
Pic: Asos
The six months sales till February 28, 2019, at Asos have increased 14 per cent to £1.314 billion as against £1.158 billion in the same period of last year. During the period, the United Kingdom sales rose by 16 per cent and international sales by 12 per cent. The company saw retail sales growth of 13 per cent to £1.281 billion during six months.

"We grew sales by 14 per cent despite a more competitive market. Asos is capable of a lot more. We have identified a number of things we can do better and are taking action accordingly. We are confident of an improved performance in the second half and are not changing our guidance for the year," Nick Beighton, CEO, said.

EU sales grew 10 per cent in constant currency, behind the initial plans, largely due to weakness in the German and French markets. The performance of the other EU countries was more encouraging at +22 per cent.

Within the US, constant currency sales growth was behind plan at 4 per cent. As the Atlanta warehouse went fully online in early February, demand far exceeded our expectations (billed sales increased around 80 per cent over the first three day period) and the warehouse was not staffed to cope.

"We are nearing the end of a major capex programme. Whilst this has inevitably involved significant disruption and transition costs, the global capability it now provides us gives us increased confidence in our ability to continue to capture market share whilst restoring profitability and accelerating free cash flow generation," added Beighton.

Across H1, the fashion destination saw growth in frequency, up 4 per cent year on year, as the UK and US showed healthy increases. Combined with broadly flat items per basket (+1%) this demonstrates the strength of the Asos offer rather than a shift towards smaller, more frequent orders. The increase in frequency also reflects the role existing customers have had in underpinning the sales growth in H1.

"Global online fashion is a growing, £220bn+ market. We now have the tech platform, the infrastructure, a constant conversation with our growing customer base who love our own great product and the constantly evolving edit of brands we present to them. We believe that ultimately there will only be a handful of companies with truly global scale in this market. We are determined that Asos will be one of them," Beighton explained. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

VITAS suggests ways to reduce Vietnam's fabric import rise

Textiles | On 18th Jun 2019

VITAS suggests ways to reduce Vietnam's fabric import rise

Quickly setting up industrial parks for textile and dyeing industry,...

Pic: University of Sheffield

Apparel/Garments | On 18th Jun 2019

RMG firms failing to deliver on living wage promise: study

Global garment companies are failing to meet living wage promises to...

Millennials will equal 40% of global luxury market by 2025

Fashion | On 18th Jun 2019

Millennials will equal 40% of global luxury market by 2025

Millennials will represent 40 per cent of the global personal luxury...

Interviews View All

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

Yogesh Kanani,

Yogesh Kanani

Incorporated in 1999, Purani Textiless Private Limited is a leading...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

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

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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 2019

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

news category


Related Categories:

Advanced Search