• Q1 revenue up 30% to GBP169.4m
  • UK sales grew 24%
  • International sales up 34%

Online clothing retailer Asos has recorded a jump in first quarter revenue as international sales continued to drive growth.

The retailer said revenue increased 30% to GBP169.4m (US$273m) over the quarter ended 30 November, against GBP130.6m in the same period last year. UK sales grew 24% and international sales were up 34%.

International sales now account for some 63% of sales, up from 61% in the same period of last year.

Retail gross margin was down 100bps over the prior-year period, which the group attributed to the combination of a particularly strong comparative period, the UK accounting for a larger percentage of the total retail sales mix than initially planned, and continued price reinvestment.

"Our UK performance was ahead of expectations at 24%, driven by better conversion of traffic alongside continued investment in both our proposition and pricing," said CEO Nick Robertson.

"Our international business grew by 34% and now accounts for 63% of our total retail sales. We achieved 57% growth in the US, 42% growth in rest of world, and 15% growth within the EU. Once again the performance of countries where we have dedicated websites was significantly better than the EU performance as a whole."

During the first quarter the company opened offices in the US, France and Germany.

Expert analysis

ASOS: An e-retail success story

ASOS: An e-retail success story

ASOS sells women’s wear, men's wear, footwear, lifestyle accessories, and jewelry and beauty products through its retail website. The company offers more than 50,000 branded and private label products...read more