International sales drive Asos’ 31% growth

Fast international growth helped Asos to a 31% rise in sales over the spring and early summer, the retailer said today.

Overseas sales made up 65% of Asos’ sales in the first quarter of its financial year, while UK sales came in at 35% of the total. UK sales rose by an “encouraging” 8% to £48.1m, but it was overseas that the fashion retailer for twenty-somethings put in its strongest performance.

There, international sales rose by 49% to £88.8m in the three months to June 30 compared to the same time last year. That boosted total sales to £136.9m, 31% up on last year’s £104.2m.

The fastest growth came in the US market, where sales lifted by 83% to £12.9m, while EU sales were up by 27% to £32.3m, and sales in the rest of the world grew by 61% to £43.5m. Total group revenues, which also include delivery receipts and third-party revenues, rose by 31% to £141.1m.

Chief executive Nick Robertson said: “”Our UK performance was particularly encouraging given the current climate, at +8%.

“Our international business grew by +49% driven by a strong performance in the US, +83% and our rest of world category (predominantly Australia) at +61%. International sales now represent 65% of the total up from 57% last year.

“We remain positive in our outlook, and continue to trade in line with expectations.”