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ASOS retail sales up 15% in Q4

Online fashion retailer ASOS increased its retail sales by 15% to £240 million in its fourth quarter despite sales being impacted by a fire at the company’s distribution centre.

GENERAL MERCHANDISE

ASOS retail sales up 15% in Q4

Online fashion retailer ASOS increased its retail sales by 15% to £240 million in its fourth quarter despite sales being impacted by a fire at the company’s distribution centre.

In the three months to end August, UK retail sales rose by 33% while international retail sales edged up 6%. ASOS said international retail sales made up 59% of the total in the period compared to 64% last year.

ASOS chief executive Nick Robertson said: “Our UK performance remained strong over the final quarter, with sales increasing 33%. Our international business grew 6% or 14% in constant currency. However, due to the fire at our Barnsley distribution centre, we lost sales during the quarter of between £25 million and £30 million with a retail gross margin impact of c.200 basis points. After adjusting for insurance proceeds, we expect profit before tax for the year to be in line with market expectations.”

The figures mean that in the year to 31 August retail sales rose by 27%. UK retail sales increased by 35% with international retail sales rising by 22%. International sales comprised 61% of total retail sales compared to 63% in the prior year.

As of 31 August, ASOS had 8.8 million active customers - a 25% rise year-on-year.

Robertson added: “Engagement with our customers remains positive with a 25% growth in active customers and increases in order frequency, conversion rate and average basket value. Sales for the year as a whole increased by 27%.

“In the new financial year we'll make significant investments in our international pricing and proposition, as well as in our logistical infrastructure and technology platform. As a result, we expect profit before tax for the year to 31 August 2015 to be at a similar level to 2013/14.

“We remain focused on the long term opportunity for ASOS, with £2.5 billion of sales as our next staging post.”

 

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