Sales soar at ASOS
20 January 2009 09:40
ASOS has reported a bumper Christmas, with sales up by 118% year-on-year in the nine weeks to January 16th. Sales soared by 108% year-on-year for the 42 weeks to January 16th, with pre-tax profits for the year to March 31st 2009 expected to be in line with forecasts. Analysts are expecting pre-tax profits of between £13 million and £14 million.
As of January 16th, the site had 1.2 million active customers, up 112% on a year ago.
Commenting on Christmas trading, chief executive Nick Robertson said: "We have had another great Christmas. Sales, visitors, conversion and average basket value were all at record levels with the website attracting 5.2 million unique visitors in December alone. We now have 1.2 million active customers, a 112% increase over the last 12 months.
"We helped maximise sales over the Christmas period by running a number of free delivery weekends and product promotions. Whilst this has impacted margin, we expect profit before tax for the year to 31 March 2009 to be in line with the board's expectations.
"We remain cautiously optimistic about the outlook for ASOS with both young fashion and the internet proving more resilient in the current economic climate. We will continue with our programme of investment, putting in the infrastructure to support continued growth".
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