ASOS growth continues apace
13 April 2011 09:52
ASOS has retained its popularity despite the squeeze on customers' purses, with sales up 70% in the last quarter to March 31st. UK retail sales were up 24% in the three-month period, but it was international retail sales that really shone, rising 161%, up 144% year-on-year.
The company added that profit before tax for the full year were likely to be at the top end of expectations, although investment in free shipping and returns has led to a reduction in overall gross margin.
Nick Robertson, CEO, commented: "I am pleased to report another successful quarter with retail sales accelerating +70%, up from +59% in our third quarter. Importantly our UK business remained strong +24%, vs +23% in the third quarter.
"With international becoming an increasingly significant part of our future, I was pleased to see our International sales mix exceed that of the UK for the first time, accounting for 52% of our retail sales."
He added: "We have approached the new financial year with confidence and are excited about the prospects for both our UK and International businesses."
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