Asos Q3 retail sales rise 30 percent

Asos has said that retail sales for the four months to June 30, 2016 increased 30 percent and 26 percent on constant currency basis. International retail sales were 59 percent of the total and in line with last year.

Commenting on the trading update, Nick Beighton, CEO, said, “I am pleased to report strong retail sales growth of 30 percent (26 percent on constant currency basis) over the four months to June 30, 2016, underpinned by our continued price and proposition investments. UK growth remains strong at 28 percent and we have seen further acceleration across the US, EU and ROW segments; overall International retail sales increased by 31 percent (25 percent on constant currency basis).”

Retail gross margin was down 180bps on prior year. It had 12 million active customers at the end of the period under review, a 24 percent year on year increase.

“We now anticipate full year sales growth at the upper end of the 20-25 percent range. Our retail gross margin guidance of up to 50bps of investment remains unchanged and we remain confident in delivering current market PBT expectations for the year,” added Beighton.

picture:asos