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Asos maintains sales momentum

Online fashion retailer Asos increased its revenues by 32% to £675.8 million in its third quarter. The company said the growth was supported by an ongoing investment in price and the customer proposition.

FASHION

Asos maintains sales momentum

Online fashion retailer Asos increased its revenues by 32% to £675.8 million in its third quarter. The company said the growth was supported by an ongoing investment in price and the customer proposition.

In the three months to 30 June, UK retail sales rose by 16% while those in the US and EU increased by 38% and 41% respectively.

Meanwhile, sales in the rest of the world saw an uplift of 54%.

Nick Beighton, Asos chief executive, said: “Strong H1 sales momentum has continued through the third period supported by our ongoing investment in our customer proposition and in price.

"This good performance has been underpinned by advances across all areas of our business including retail, technology, warehousing, delivery solutions and customer care. We have made a smooth transition to our new Eurohub 2 facility in Germany and anticipate confirming a new US logistics hub soon.”

The company grew is number of active customers by 25% in the period. There was also a rise in the average basket value with an uplift of 3%.

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