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Asos third quarter sales up 45%

Online fashion retailer Asos has reported a 45% increase in its third quarter sales with strong growth in both its UK and international businesses.

GENERAL MERCHANDISE

Asos third quarter sales up 45%

In the three months to 31 May, total retail sales increased to £193.6 million from £133.9 million a year earlier.

In the UK, sales rose 39% to £64.3 million while international sales surged by 48% to reach £129.2 million. International sales now make up 67% of the retailer’s total sales, compared to 65% a year ago.

Asos said highlights during the quarter included the launch of a dedicated Russian website and 38% growth in the total number of active customers which now stands at 6.5 million.

Nick Robertson, Asos chief executive said: "I am pleased to report another strong trading period for the three months to 31 May 2013.

"Our UK sales grew by +39% as our customers continued to respond well to our price investments. Our International business accelerated to +48% and now accounts for 67% of our total retail sales. We continue to see stronger growth in those countries where we have dedicated websites and in-country teams, notably in the US, France, Germany and Australia. Our dedicated Russian website launched on 1 May 2013.

"Retail gross margin grew by 10bps over the quarter as we annualised last year’s price investments. We anticipate a further increase in the fourth quarter which should result in a small improvement for the year as a whole." 

The group added that it expects full-year results to be in line with its expectations.

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