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Asos Q1 retail sales climb by 69%

Asos, the UK’s second largest online fashion and beauty retailer, has posted a 69% increase in retail sales to £104.2 million for the three months to 30 June.

CITY & CORPORATE

Asos Q1 retail sales climb by 69%

Asos, the UK’s second largest online fashion and beauty retailer, has posted a 69% increase in retail sales to £104.2 million for the three months to 30 June.

UK retail sales rose 15% to £44.6 million and international sales grew 160% to £59.6 million. 

Following the launch of websites in the US, France and Germany last year, international sales now make up 57% of all the company's retail sales in the quarter, up from 51% in the previous three months.

Revenue in the quarter climbed to £107.3 million from £65.8 million in the same period a year earlier.

Asos also reported that the transition to its new single warehouse facility in Barnsley was completed during the period, on budget and ahead of schedule.
 
Nick Robertson, Asos CEO, said: "The new financial year has started well and we remain positive in our outlook for 2012, with progress to date in line with expectations."

Asos targets 16 to 34 year-olds with celebrity inspired fashion items at discount prices. The online store carries 50,000 branded and own label products and introduces 1,500 new product lines each week.

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