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Asos sales up 19% but gross margin falls

Asos.com has reported total retail sales increased 19% to £290.1m for the three months to February 28, with UK retail sales increasing by 30% to £126.6m and international sales by 12% to £163.5m.

Retail gross margin fell by 320 basis points against the same period last year.

International retail sales made up 56% of total sales, down from 60% in 2014.

“Our investments in our warehouse and IT platforms are on track,” said chief executive Nick Robertson. “We expect profit before tax for the full year to be in line with market expectations.”

“Retail sales for the three months to 28 February 2015 grew by +19% (+22% on a constant currency basis), with strong growth continuing in the UK at +30%. We have also seen encouraging momentum in our international markets during the quarter at +12% (+16% on a constant currency basis) following the successful roll out of our zonal pricing capability and our planned price investments.”

The company’s sites attracted 88 million visits during February, up from 71 million in the same month last year. As of February 28, there were 9.3 million active customers who shopped in the last 12 months (up from 8.2 million in 2014), of which 3.7million were located in the UK and 5.6 million were in international territories.

@Tara_Hounslea

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