Asos sales up 13% as UK market outperforms
By Sahar Nazir - Mar 20th, 09:25
Asos has reported a rise in its quarterly sales, as growth at home in the UK continues to outperform its foreign markets.
Total sales increased by 13 per cent year-on-year to £658.5 million on a reported basis in the three months leading up to February 28.
Total retail sales also went up by 13 per cent to £641.3 million.
Asos’ UK market experienced a sales advance of 14 per cent to £244.4 million during the quarter.
Meanwhile, in the six months to February 28, total retail sales were up 11 per cent to £1.28 billion.
UK sales growth was the strongest, climbing 16 per cent to £481.5 million for that half-year period.
However, while Europe sales grew 12 per cent, two markets in that region – France and Germany – “continued to be challenging”.
Furthermore, the online fashion retailer said its new warehouse in Atlanta encountered difficulties in demand in its second quarter, which consequently resulted in a dip in its US sales.
“Our retail gross margin guidance for the year remains. We will be increasing investment in price and marketing in the second half, particularly in France and Germany,” Asos chief executive Nick Beighton said.
Asos said it remained positive and expected a strong second half, which will help it meet its full-year guidance.
The full results of its first half will be published in the coming weeks.Retail Gazette
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