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Asos sales rise 27% but margins fall

Asos has reported retail sales increased 22% for the four months ended December 31 but retail gross margin fell 40 basis points compared to the same period in 2014.

Asos website

Asos website

Total retail sales jumped 27% to £446.9m at constant currencies and by 22% in real terms. Total group revenue for the period, which also includes delivery receipts and third party revenues, grew by 27% at constant currencies to £459.7m and by 23% in real terms.

UK sales outperformed international, standing at 25% up compared with a 20% rise overseas.

The etailer grew its active customer base by 18% year-on-year, ending the period with 10.7m customers.

Chief executive Nick Beighton said: “We had record sales over cyber weekend in late November and have seen further growth in average order frequency, average basket value and number of orders, alongside an acceleration in active customer growth to 18%.”

“We are progressing well with our warehouse and technology investments and in December construction began on our EuroHub 2 facility,” he added.

The group is on track to meet full-year expectations, said Beighton.

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