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Asos sales increase but margin falls has reported that retail sales increased by 15% for the six weeks to January 9 but gross margin fell 200 basis points on the previous year.

UK sales were up 27% during the period, while international sales increased by 5%. International sales accounted for 51% of total sales, down from 56% in 2013.

The company reported that its zonal pricing rollout was on track and its programme of investment into its IT platform and distribution capability are progressing well.

Asos said it had a strong balance sheet and cash position at the end of the reported period. Guidance for the outcome for the year in terms of sales and profit margin remains unchanged.

“Trading over the last six weeks was in line with expectations at +15%, with growth accelerating over Q1 as anticipated,” said chief executive Nick Robertson. “UK sales remained strong at +27%.

“Improved international sales at +5% indicates an initial encouraging response to our planned price investments, also reflected in the retail gross margin performance which is in line with expectations for the period.”

Asos’s websites attracted 98 million visits during December 2014, up from 87 million the previous year. As of December 31 it had 9.1 million active customers, up from 7.9 million in 2013, of which 5.4 million were located in the UK.

Readers' comments (1)

  • "Percentage increases are etailing, growing profits is retailing!"

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