ASOS surprises with quieter UK sales
14 October 2011 09:47
Online fashion retailer ASOS has said that quarterly sales for the UK were slower than expected, but added that it expects full-year results to meet expectations. In the three months ended September 30th, retail sales were up 53% year-on-year, with a rise of 141% in international sales offsetting a weaker rise of 1% in the UK. For the half year, retail sales rose 60% in total, comprising a rise of 150% in international and 8% in UK sales. Nick Robertson, CEO, commented: "I am pleased to report a strong first half performance. Our retail sales grew 60% over the comparable period, with our International business more than compensating for the economic challenges facing our UK customer base.
"During the period we launched three more country specific sites in Australia, Italy and Spain taking the total number of ASOS sites to 7 (including the UK).
"With costs and stock tightly managed and retail margin ahead of prior year, we are confident of achieving results in line with market expectations."
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