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Asos sales up but margins fall

Asos sales rose 30% year-on-year for the four months ended June 30 but gross margins fell by 180 basis points due to the timings of its Sale and “planned price investments”.

Asos

 

UK sales grew by 28% to £203.1m during the period while international sales grew 31% to £297.4m. International sales make up 59% of the total, in line with last year.

“As anticipated, our retail gross margin for the period is down circa 180bps, approximately 40% of which (70bps) is due to moving our main sale forward one week into this financial period, with the balance as a result of continued price investment,” said chief executive Nick Beighton.

“We now anticipate full year sales growth at the upper end of the 20-25% range. Our retail gross margin guidance of up to 50bps of investment remains unchanged and we remain confident in delivering current market profit before tax expectations for the year.”

 

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