UK: Asos Christmas retail sales in 38% surge
- Revenues up 37% to GBP342.6m in four months to 31 December
- Total retail sales up 38% to GBP335.7m
- UK retail sales up 37% to GBP133.7m
Online fashion retailer Asos reported another robust sales surge in the last four months of 2013, with UK retail sales rises matching international revenue growth.
While UK retail sales were up 37%, international revenues grew by 38%, thanks to growth of 28% in the US, 69% in the EU and 19% in the rest of the world.
Retail gross margins were up by about 90 basis points on last year, and Asos had 7.9m active customers at 31 December, up 41%.
“We have enjoyed another strong Christmas and made a good start to the financial year,” said Nick Robertson, company CEO.
“Work on significantly increasing the capacity of our Barnsley site continues, and we plan to open our central European distribution centre later this year.
“The business continues to trade in line with expectations.”
Liz Faulkner, retail consultant at analyst Conlumino, said of the results: “Despite many retailers finding the Christmas 2013 trading period tough, this impressive trading shows Asos has no signs of faltering.
“The ability to achieve such market-beating growth is not solely down to Asos’s position as an online juggernaut.
“Rather, it is a clear global perspective married with an astute understanding of its target market, supported by continued investment, which sees Asos leap from strength to strength.”
- Low labour cost countries linked to highest risks
- Why should brands care about China cotton?
- China cotton: implications and opportunities
- COMMENT: Skills or new technology?
- UK reshoring hub hit by sweatshop claims
- South Africa to grow grass for recyclable textiles
- 30% of Adidas cotton from sustainable sources
- Activewear driving US apparel spend
- Benetton to embark on living wage roadmap
- Sri Lanka and Bangladesh FTA talks underway
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of swimwear - forecasts to 2019
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Apparel Retail: Top 5 Emerging Markets Industry Guide