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Asos reports strong first half trading

Online fashion retailer Asos has reported a 38% increase in first half retail sales following strong sales growth in the UK and its international territories. In… View Article

FASHION

Asos reports strong first half trading

Online fashion retailer Asos has reported a 38% increase in first half retail sales following strong sales growth in the UK and its international territories.

In the six months to 28 February, retail sales rose to £889.2 million from £644.6 million in the same period in the previous year.

UK sales were up 18% in a “highly promotional” market while international sales climbed by 54%.

As anticipated, pre-tax profit grew by 14% to £27.3 million.

Nick Beighton, Asos chief executive, said: “These are a strong set of results, showing great progress across the business. International growth of 54% has been excellent and with the Rest of the World segment a stand out performer.

“Customer acquisition, up 29%, takes our active customers to over 14 million. We passed the five million active customer mark in the UK, where we have shown solid sales growth of 18% in a more promotional market.”

Asos said its average basket value rose by 3% in the period with average order frequency up 4%. Total orders shipped reached 23.3 million which was an uplift of 33% year-on-year.

Looking ahead, Beighton added: “Given the current momentum we are seeing, Asos is making good progress towards its ultimate goal of becoming the world’s no. 1 destination for fashion-loving 20-somethings.”
 

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