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Asos sales soar 69% in the first quarter

Sales at online fashion giant Asos soared by 69% to £104m in its first quarter.

Sales at Asos topped £104m over the three months to June 30. The etailer said its gross margin was in line with previous guidance.

But the retailer’s UK sales growth slowed over the period. Sales were up 15% year-on-year to £44.6m compared to 24% growth in the final quarter of 2011.  

International sales continued to soar for the etailer, rising 160% to £59.6m. Overseas sales now account for 57% of its revenue, up from 51% in its last quarter.

The etailer is planning to expand into further international territories this year, with sites in Italy, Spain and Australia in development. It is also waiting to push the button on a Chinese site.

Asos chief executive Nick Robertson said: “Our UK performance was good at +15% and our international performance was very strong at +160%. The new financial year has started well and we remain positive in our outlook for 2012, with progress to date in line with expectations.”

The retailer’s transition to its single warehouse in Barnsley was completed over the period.

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