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Asos Q4 sales growth strong but warehouse fire hits margins

Asos.com has reported a 33% rise in UK sales to £98m in the three months to August, despite losses of between £25m and £30m due to the fire at its Barnsley distribution centre in June.

However, international sales only rose by 6% to £141m, leading to a total sales growth of 15% to £240m in the period. Asos said its retail gross margin in the quarter was down by as much as 640 basis points year on year.

Chief executive Nick Robertson said he expected profit before tax for the year to be in line with market expectations, after adjusting for insurance proceeds.

He added: “In the new financial year we’ll make significant investments in our international pricing and proposition, as well as in our logistical infrastructure and technology platform. As a result, we expect profit before tax for the year to August 31 2015 to be at a similar level to 2013/14.

“We remain focussed on the long term opportunity for Asos, with £2.5bn of sales as our next staging post.”

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