ASOS Retail Sales Soar 40% Boosted By International Growth

LONDON (Alliance News) – Global online clothing and beauty retailer ASOS PLC said that retail sales soared by 40% in the financial year ended August 31, boosted by strong international growth and an increase in active customer numbers.

The popular online fashion retailer for 20-somethings, reported retail sales rose to GBP753.8 million from GBP537.9 million a year earlier.

ASOS Chief Executive Nick Robertson said that ASOS will soon launch in China, with future international plans to explore other big economies like South America and India, after some time.

The group said that international retail sales accounted for 63% of total retail sales. It said that UK retail sales were up 34% to GBP276.0 million, while international retail sales were up 44% to GBP477.8 million, boosted by the recent launch of mobile services in countries like Russia, Germany and France.

ASOS said that during the year it strengthened its own-brand range in both womenswear and menswear, which accounted for 52% of sales over the year.

“We have started the new financial year positively. Our GBP1 billion sales target is now firmly in our sights, and we have stepped up our investment in people, technology, logistics and marketing to support the significant global potential of the ASOS business,” Robertson said in a statement.

The huge uptick in sales, led to a 37% increase in its full year pretax profit to GBP54.7 million, compared with GBP40.0 million a year earlier.

ASOS said that it has now reached its 7 million active customers worldwide milestone, up from 5 million users the year before.

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