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Asos reaches full-year targets

Asos, the fast growing retailer of celebrity inspired fashion, has reported a 46% rise in third quarter retail sales to £146.53 million.

GENERAL MERCHANDISE

Asos reaches full-year targets

In the three months to 31 December, sales at its UK business were up 10% to £62.1 million while international sales rose a massive 93% to £84.5 million from £43.7 million in the final quarter of 2010.  Sales in the US increased by 146% in the period while EU sales rose 33%.

Group revenues overall increased by 45% to £150.6 million from £104.1 million in the previous year. 

Nick Robertson, Asos CEO, commented: “I am pleased to report a strong third quarter performance across all territories including the UK. 

"With the business continuing to perform well through these challenging economic times, we remain confident about the outlook and expect our full year results to be in line with market expectations.”

The company also reported that its retail gross margin was 300bps higher over the period, in line with guidance. 

 

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