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Asos’ revenue up 20 per cent

Over a four month period, Asos’ revenue was up 20 per cent. Total orders were up 20 per cent supported by robust operational performance at all its distribution centers. The period also saw strong customer momentum with visits up 23 per cent year on year and an increase in active customers during the four months. Operations both in its domestic UK market and abroad rose in healthy double-digits. It was an improvement on the firm’s latest full year when group revenues rose only 12 per cent. But after a few stumbles in recent periods, the company’s focus through the four months was on restoring consistent operational execution and rebuilding customer momentum. And it seems to have achieved this aim. Its UK retail sales rose 18 per cent while EU retail sales were up 21 per cent. In the US, the company managed a 23 per cent increase and in the rest of the world, retail sales rose 23 per cent. That all added up to a 22 per cent increase in overall international retail sales. But the gross margin dropped 170 basis points reflecting US duty and investment in customer acquisition as planned.

The four months saw improvements in product choice and stock availability, presentation and social media engagement and optimising customer acquisition and reactivation.