Asos sales boosted by Black Friday and Cyber Monday
Asos saw its total retail sales climb by 8% to Â£252 million in the three months to end November as the online fashion retailer experienced its biggest ever sales week due to the Black Friday and Cyber Monday weekend.
Retail sales in the UK climbed by 24% although international sales edged down 2% as trading conditions remained challenging. As a result, international sales accounted for 57% of retail sales in the period compared to 63% in the previous year.
The retailer said it had begun to invest in its international pricing and had started to roll out a zonal pricing capability to help address its international performance. It is also continuing to upgrade its IT platform and invest in its logistics capability.
Asos chief executive Nick Robertson said: “Total retail sales for the quarter grew by 8% (12% on a constant currency basis). September and October were challenging as we completed the automation programme in Barnsley in time for peak. Our sales have since gathered momentum and we had our biggest ever trading week over cyber weekend in November.”
During the quarter, Asos received £6.3 million of insurance proceeds relating to the fire at its Barnsley warehouse in June which is being used to accelerate investment in international pricing. After taking this into account, the company is forecasting that full year profits will be in line with expectations.
Email this article to a friend
You need to be logged in to use this feature.
Please log in here