Global online fashion site ASOS has reported a boost in sales – bucking the current lacklustre retail trend.
The UK-founded company, which launched in 2000 and has since infiltrated markets across the globe such as Australia and the US, has today reported a total sales increase of 34%, to £352 million, for the first half of its fiscal 2012/13 year.
During this period UK retail sales were up by 26%, US sales were up 54% and European sales rose by 36%. International sales represented 61% of the total sales in the first half (of the year?).
Chief executive officer of ASOS, Nick Robertson, said he was ‘delighted’ with the ‘robust’ first half results and that UK performance remained ahead of expectations, with particularly strong trading during the peak December period.
With retail gross margin being slightly down, Robertson added: “The strength of our UK performance continues to put pressure on our achieved retail gross margin. We expect this to improve during the remainder of the financial year as we annualise last year's price investments and achieve planned sourcing gains.
“We remain positive in our outlook for the year to 31 August 2013 and continue to trade in line with expectations,” Robertson said.
Robertson said the company’s EU growth continues to be driven by strong performance in the countries ASOS has dedicated websites in. Growth has also been aided by new in-country management teams in France, Germany.