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Asos reports sales up by a fifth

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Asos today reported retail sales of £802.7m during the spring and early summer. The figure is up by 21% compared to the same time last year.

The fashion retailer, a Top50 trader in IRUK Top500 research, saw UK sales rise by 23% to £288m, in the four months to June 30. Asos said that reflected a continued gain in market share. Its largest international market was the EU, where sales of £257.4m were 31% up on last year, or 23% when currency fluctuations were discounted. Sales in the US reached £108.1m, 15% up on last time, or 22% in constant currency. Total group revenue of £823.9m was 22% ahead.

Chief executive Nick Beighton said: “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.”

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