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ASOS sales up 30%

Online fashion retailer ASOS increased its total retail sales by 30% in the four months to 30 June and now expects its full year sales growth to be at the upper end of its 20-25% range.

GENERAL MERCHANDISE

ASOS sales up 30%

Online fashion retailer ASOS increased its total retail sales by 30% in the four months to 30 June and now expects its full year sales growth to be at the upper end of its 20-25% range.

UK retail sales rose by 28% while international sales saw an uplift of 31% or 25% at constant currencies. International sales accounted for 59% of the total.

Meanwhile, retail gross margin was down around 180bps on the prior year due to sale phasing and a planned price investment.

ASOS chief executive Nick Beighton said the sales growth was underpinned by the retailer’s continued price and proposition investments.

He added: “Given the increased momentum within the business combined with our strong financial position, we will maintain our successful programme of reinvestment to take advantage of the opportunities currently available to us.”

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