ASOS sales up 22% as UK puts in strong performance

Online fashion giant ASOS achieved a 22% increase in retail sales to £802.7m in the four months to 30 June as the UK had put in a particularly strong performance.

Retail sales in the UK were up 23% at £288m while international sales were up 21% at £514.7m. In the 10-months year to date it has achieved total revenue of £1.98bn and total retail sales of £1.93bn. As such the business says it remains on course to deliver sales growth within the +25%-30% range in FY18 (likely towards the lower end).

“I am pleased with the way the business has traded over the last four months and we are on track with our plans for the year. We delivered good sales growth, particularly in the UK, better than planned gross margin alongside significant progress on our infrastructure investments.

"P4 trading has started well, particularly in terms of full price sell through. We remain confident of delivering another year of strong growth,” said ASOS CEO Nick Beighton.

During the period the AIM-listed etailer added 20% to its active customer base, increased its average basket value by 1% and its average order frequency by 8%. It said that CAPEX guidance for the year remained unchanged at £230m-£250m.

ASOS recently revealed that former ITV chief Adam Crozier would be taking over as chairman in November when Brian McBride would be standing down after six years in the role.