Asos reports 30% increase in Q1 sales
Online fashion retailer Asos has maintained strong sales growth in its first quarter as total retail sales rose by 30% to reach £166 million.
In the three months to 30 November, UK sales increased by 24% to £62 million driven by better conversion of the retailer’s website traffic and an investment in proposition and pricing.
International sales rose by 34% and now account for 63% of total sales. US retail sales jumped 57% to £19 million while EU retail sales rose 15%. The retailer said its performance in countries where it has dedicated websites was significantly better than the EU performance as a whole.
Retail gross margin fell 100 basis points year-on-year, reflecting a strong comparative period, the UK accounting for a larger percentage of total sales mix than initially planned, and price cuts.
Nick Robertson, Asos chief executive officer, said: "I am pleased to report strong trading for the three months to 30 November 2012 with total retail sales up 30% to £166 million.
"We remain positive in our outlook and continue to trade in line with expectations."
At 30 November, Asos had 5.4 million active customers representing a 35% increase year-on-year.
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