ASOS goes back to strong growth

After a tough previous quarter, online fashion giant ASOS has reported a 14% uptick in UK retail sales in the three months to 28 February. Across the whole Group, it saw a 13% growth in retail sales.

Volume of sales grew rapidly too, with a 15% increase in orders placed to a total of 17.3 billion.

“Group sales over the period increased by 13 per cent and retail gross margin improved by 40bps.

We continued to outperform in the UK with sales growth of 14 per cent. Sales in Europe were up 12 per cent, although France and Germany, our two largest markets, continue to be challenging,” said ASOS chief executive Nick Beighton.

“Our retail gross margin guidance for the year remains,” he continued. “We will be increasing investment in price and marketing in the second half, particularly in France and Germany. Given the actions we are taking together with an improving US performance, we believe the group will deliver stronger growth in the second half. Consequently, we remain confident that we will meet guidance for the full year.”

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