It’s not all bad: Asos Q1 up nearly 70%

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The online fashion retailer posted yet another jump in first quarter sales, and remains confident on its outlook for the coming months.


Asos has gone from strength to strength in the past year, as its target audience of 16 to 34 year old women migrate from the high street to e-commerce. By targeting students and young professionals with low outgoings and high disposable income, Asos has managed to grow its fast-fashion sales that emulate celebrity style and catwalk designs.


Retail sales for the business rose 69 percent to £104.2 million in the three months to 30 June, and is consistent with a 70 percent increase seen in the group’s fourth quarter. UK retail sales increased 15 percent to £44.6 million, dipping slightly from the previous quarter’s 24 percent rise.


Internationally sales grew by 160 percent to £59.6 million, thanks to last year’s launch of the US, French and German websites. Again, the growth was similar to the fourth quarter’s 161 percent sales growth. Overseas purchases now make up 57 percent of Asos’ sales mix.

"The new financial year has started well and we remain positive in our outlook for 2012, with progress to date in line with expectations," said Chief Executive Nick Robertson.


Asos stockclosed at 2,350p last night, valuing the business at £1.76 billion.

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