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ASOS sales growth accelerates over Christmas
[LONDON] British online fashion retailer ASOS reported a rise in trading over Christmas, with retail sales up 15 per cent helped by strong demand in its home market.
ASOS, which is recovering from a fire at a warehouse and adapting to a new mechanised order picking system, said retail sales in the six weeks to Jan 9 were up 15 per cent, buoyed by a 27 per cent jump in sales in Britain.
It said its retail gross margin was down around 200 basis points on the prior year, however 5 per cent growth in international sales showed lower prices were proving popular.
"Trading over the last six weeks was in line with expectations at 15 per cent, with growth accelerating over the first quarter as anticipated," chief executive Nick Robertson said. "Guidance for the outcome for the year in terms of both sales and EBIT margin remains unchanged."