ASOS results boosted by robust UK performance
Online fashion retailer ASOS has posted a revenue increase of 5% to £1.4 billion in the lead-up to Christmas after UK sales grew ahead of expectations.
In the four months to 31 December, UK sales climbed by 13% to £645.2 million while sales in the EU and US increased by 2% and 11% respectively. The company said UK sales were boosted by a strong peak trading performance and demand for occasion wear.
Meanwhile sales in the rest of the world declined by 15% due to the continued impact of extended delivery propositions.
Mat Dunn, ASOS chief operating officer, said: “ASOS has delivered a robust start to the year, in line with the guidance we set out at full-year results, despite challenging market conditions. This performance reflects the strength of our offer, excellent customer experience and the dedication and hard work of all ASOSers.
“We continued to make progress against our objectives to improve the flexibility and speed of our retail model and accelerate the pace of delivery of our international growth strategy. Looking ahead, while mindful of the near-term uncertainty relating to the pandemic, our guidance for the full year remains unchanged.”