Asos Q3 sales increase 21 percent
Jul 15, 2021
For the four months to June 30, 2021, Asos reported total group revenue of 1,286.4 million pounds, up 21 percent. Sales in the UK increased 60 percent to 526.4 million pounds.
The company said trading in the last three weeks of the period was more muted, as continued Covid uncertainty and inclement weather, particularly in the UK, impacted market demand. The company anticipates a measure of volatility to continue in the near term, resulting in underlying fourth quarter growth rate to be broadly in line with the prior year comparable period.
Commenting on the trading update, Nick Beighton, Asos CEO, said in a statement: “Asos has delivered another strong performance against a backdrop of continued social restrictions and global supply chain pressures.”
The company’s active customer base increased by 1.2 million to 26.1 million since HY21. The company added that gross margin of negative -150bps reflected FX headwinds, elevated freight costs due to global supply chain disruption and continued ‘lockdown’ category product mix.