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Asos profits soar but online growth "moderates"

Asos saw sales rise 104% to £165.4 million for the year to March 31. Trade has continued strongly with sales for the 13 weeks to June 26 ahead 52% on last year but Asos warned online sales growth was “moderating”.

Asos said that pre-tax profits were up 93% to £14.1m over the year. The number of active customers rose 68% to 1.2 million at the end of May 2009.

“…there is now some evidence to suggest that the rate of growth in online sales has begun to moderate.”

Nick Robertson, chief executive, Asos

International sales also jumped by 303% to £32.2m. Asos said there was significant opportunity to grow further in overseas markets.

Asos chief executive Nick Robertson said: “This year has started positively, with sales for the 13 weeks to June 26 52% ahead of the same period last year. This compares to an increase of 95% for the same period last year. Clearly we are facing much tougher comparables, and there is now some evidence to suggest that the rate of growth in online sales has begun to moderate. In May 2009, the IMRG reported an 8% year on year growth in clothing sales, the lowest year on year increase since the index was launched nine years ago.”

 

KEY PERFORMANCE INDICATORS2008/092007/08Increase
Sales (£’000)165,39581,044104%
Retail margin (excludes 3rd party revenues and delivery)46.3%47.6%
Average basket value (£, inc. VAT)59.553.012%
Average units per basket2.582.54
Average selling price per unit (£, inc. VAT)23.0920.8911%
Returns % to sales (by value)26.0%26.1%
% International sales19.5%10.0%
Number of orders (‘000)3,9792,23578%


Readers' comments (1)

  • Online sales are slowing but they are still on a reasonable strong growth trajectory. What's interesting is when you drill down into certain categories though. Lingerie for instance seems to be in negative growth online. What are the reasons for this?

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