Asos sales up 20%
Online fashion retailer Asos increased its retail sales by 20% in the four months to 30 June as growth in the UK remained strong.
UK retail sales climbed by 27% while international sales rose by 16% to account for 59% of total sales.
The company had 9.7 million active customers at the end of the period which was an 11% increase year-on-year.
Nick Robertson, Asos chief executive, said: “UK growth remained strong at +27%. Our continued international price investments underpinned our international sales growth of 16% (+23% on a constant currency basis), despite a number of currencies weakening against Sterling.
“After accounting for our price investments during the period, the full year gross margin is nonetheless expected to remain in line with last year, assisted by tighter inventory control and strong full price sales.”
Asos said it expects sales for the full year to be at the higher end of its guided 15% to 20% growth range.
Robertson added: “We have increased investment in our people and our customer proposition, particularly in relation to free returns trials. We therefore expect EBIT margin to remain at the guided level of circa 4%.”
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