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Etailer Asos delivers a 37% jump in sales

Etailer Asos posted a “robust” performance for the first half, delivering a 37% surge in sales in its second quarter.

Retail sales rose 37% to £186m in the three months to February 28 as first half retail sales grew 34% to £352m.

UK sales climbed 28% to £75.5m in the second quarter, with Asos noting “particularly strong trading” during the peak December period.

However retail gross margins dropped 50 basis points on the previous year, with gross margins dropping by 60bps for the first half.

Meanwhile international sales jumped 45% to £110.9m, now making up 59% of total sales compared with 57% the same period last year. Asos said its EU growth continued to be driven by strong performances in countries with dedicated websites, and particularly by its country teams in France and Germany.

A strong Q2 performance has helped fuel Asos’ first half, with total sales up 34%.

UK sales rose 26% to £137.6m, as international sales rose 39% to £214.7m, making up 61% of total sales.

Chief executive Nick Robertson described it as a “robust first half performance”.

“The strength of our UK performance continues to put pressure on our achieved retail gross margin,” he said. “We expect this to improve during the remainder of the financial year as we annualise last year’s price investments and achieve planned sourcing gains.”

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