THE RETAIL BULLETIN - The home of retail news
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Health & Beauty
General Merchandise
Sports & Leisure
The Papers
Retail Solutions
Food & Drink
Asos warns on full year sales growth

Online fashion retailer Asos has said its full year sales growth is likely to be at the lower end of forecasts.


Asos warns on full year sales growth

Online fashion retailer Asos has said its full year sales growth is likely to be at the lower end of forecasts.

In a trading statement, the retailer said sales growth is likely to be towards the lower end of a 25% to 30% range while pre-tax profit is expected to be in line with consensus.

In the four months to 30 June, group revenue rose by 22% to £823.9 million with total retail sales growing by the same percentage.

While international retail sales increased by 21% to £514.7 million, retail sales in the UK were up 23% to £288 million.

During the period Asos continued its strong customer engagement with the number of active customers increasing by 20%. It also saw growth in its average basket value and average order frequency, which rose by 1% and 8% respectively.

Nick Beighton, Asos chief executive, said: “ I am pleased with the way the business has traded over the last four months and we are on track with our plans for the year. We delivered good sales growth, particularly in the UK, better than planned gross margin alongside significant pr ogress on our infrastructure investments.”

The company said trading since 30 June has been going well, particularly in terms of full price sell through.

Beighton added: “We remain confident of delivering another year of strong growth.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News


Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Conference
The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
The 11th HR Summit 2019, Hallam Conference Centre, 44 Hallam St, Marylebone, London W1W 6JJ
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy