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Asos reports surge in Christmas sales

Asos has posted a surge in retail sales in the run-up to Christmas as the online fashion retailer grew its number of active customers by 41%.

GENERAL MERCHANDISE

Asos reports surge in Christmas sales

In the four months to 31 December, retail sales grew by 38% to £335.7 million with UK sales rising by 37% and international sales up 38%.

Sales soared by 69% in Europe while sales in the US rose by 28%. In the Rest of the World sales increased by 19%.

Asos chief executive Nick Robertson said the performance was driven by improvements to the customer proposition, including better delivery options, additional payment methods and the roll out of the retailer’s premier service in key international markets.

The company ended the period with 7.9 million active customers, which was 41% ahead of the prior year. Retail gross margin also increased, rising by 90 bps, as a result of tighter stock control.

Robertson added: “We have enjoyed another strong Christmas and made a good start to the financial year.

“Work on significantly increasing the capacity of our Barnsley site continues and we plan to open our central European distribution centre later this year.

“The business continues to trade in line with expectations”.

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