Trading Statement

Released : 05/06/2014

RNS Number : 8812I
ASOS PLC
05 June 2014
 



5 June 2014

 

ASOS plc ("the Company")

Global Online Fashion Destination

Trading Statement for the three months ended 31 May 2014

 


 Three months to 31 May

Nine months to 31 May

£'000s

2014

2013

Increase

CCY^

increase

2014

2013

Increase

CCY^

increase

UK retail sales

91,880

64,347

43%

43%

273,920

201,926

36%

36%

   US retail sales

24,765

21,255

17%

28%

71,514

56,806

26%

31%

   EU retail sales

64,710

47,215

37%

42%

192,336

124,672

54%

52%

   ROW retail sales

61,600

60,796

1%

16%

177,504

162,472

9%

20%

Total International retail sales

151,075

129,266

17%

28%

441,354

343,950

28%

33%

Total retail sales

242,955

193,613

25%

33%

715,274

545,876

31%

34%










Total group revenues*

248,081

197,199

26%

34%

729,807

556,930

31%

34%

*Includes retail sales, delivery receipts and third party revenues.

^On constant exchange rate basis

 

 

Three months to 31 May 2014 highlights

·    Retail sales +25% year on year (UK +43%, International +17%)

·    International retail sales 62% of total (67% last year)

·    Retail gross margin down c.370bps on prior year

·    8.6 million active customers* at 31 May 2014 (+32% year on year)

·    Strong balance sheet and cash position

 

*Defined as having shopped in the last 12 months

 

Nick Robertson, CEO, commented:

"Retail sales for the quarter were strong, increasing by 25% (+33% at constant exchange rates) with particularly strong growth in the UK of 43%. However, Sterling's continued strengthening has resulted in a slowdown in our international sales growth to 17% (+28% at constant exchange rates).

The resultant higher mix of UK and European sales, with lower retail margins, together with increased levels of promotional activity, leads us to reduce our EBIT margin guidance to c.4.5% from c.6.5% for the current financial year.   

Whilst our profit performance for this financial year is not what we had hoped for due to an unusual combination of factors, our accelerated investment in technology and infrastructure to support our £2.5bn sales ambition is progressing and capex remains within guided levels. All customer metrics - active customers, new customers, order frequency and units per basket - are positive and we are totally focussed on rolling out the ASOS business model globally as the world's leading online fashion destination for 20-somethings."



 

Analyst/Investor conference call:

ASOS will be hosting a conference call for analysts and investors at 8:30am (UK Time) today. Please call Jamie Ramsay at Instinctif Partners for dial-in details on 020 7457 2047 or email jamie.ramsay@instinctif.com.

A recording of this conference call will be available on the ASOS Plc investor centre website later today: http://www.asosplc.com/investors.aspx 

Photography:

Latest photography will be available at: http://www.asosplc.com/media/image-library.aspx

For further information:

ASOS plc                                                                          

Tel: 020 7756 1000

Nick Robertson, Chief Executive 


Nick Beighton, Finance Director

Greg Feehely, Head of Investor Relations






 

Instinctif Partners

 

Tel: 020 7457 2020

Matthew Smallwood / Justine Warren / Jamie Ramsay 

 



 

JPMorgan Cazenove 

 

Tel: 020 7742 4000

Luke Bordewich / Gina Gibson       




 

Numis Securities    

 

Tel: 020 7260 1000

Alex Ham                   


 

Background note

ASOS is a global fashion destination for 20-somethings. We sell cutting-edge 'fast fashion' and offer a wide variety of fashion-related content, making ASOS.com the hub of a thriving fashion community. We sell over 75,000 branded and own-brand products through localised mobile and web experiences, delivering from our UK hub to almost every country in the world.

 

We tailor the mix of own-label, global and local brands sold through each of our nine local language websites: UK, US, France, Germany, Spain, Italy, Australia, Russia and China.

 

ASOS's websites attract 83 million visits per month (May 2013: 69 million) and as at 31 May 2014 had 8.6 million active customers1 (31 May 2013: 6.5 million), of which 3.3 million were located in the UK and 5.3 million were located in our international territories (31 May 2013: 2.7 million in the UK and 3.8 million internationally).

 

1 Defined as having shopped in the last 12 months


www.asos.com                   www.asos.es
www.us.asos.com
               www.asos.com/ru

www.asos.de                      www.asos.cn
www.asos.fr
                        m.asos.com

www.asos.com/au               marketplace.asos.com

www.asos.it                        fashionfinder.asos.com

 

 

 

 

 

 

Appendix 1

Retail sales by quarter for the year ending 31 August 2014

£'000s

Q11

YOY%

Q22

YOY%

Q3

YOY%

Q4

YOY%

YTD

 2013/14  

YOY%

UK retail sales

37%

21%

43%


36%

   US retail sales

32,253

28%

14,496

41%

24,765

17%



71,514

26%

   EU retail sales

87,295

69%

40,331

57%

64,710

37%



192,336

54%

   ROW retail sales

82,450

19%

33,454

3%

61,600

1%



177,504

9%

International retail sales

38%

29%

17%


28%

Total retail sales

335,665

38%

136,654

26%

242,955

25%



715,274

31%

 

Retail sales by quarter for the year ending 31 August 2013

£'000s

Q11

YOY%

Q22

YOY%

Q3

YOY%

Q4

YOY%

 

 2012/13

YOY%

UK retail sales

28%

23%

39%

49%

34%

   US retail sales

25,280

56%

10,271

48%

21,255

59%

20,872

59%

77,678

57%

   EU retail sales

51,780

29%

25,677

53%

47,215

56%

53,036

73%

177,708

51%

   ROW retail sales

69,083

39%

32,593

34%

60,796

38%

59,922

26%

222,394

35%

International retail sales

38%

43%

48%

47%

44%

Total retail sales

243,856

34%

108,407

35%

193,613

45%

207,931

47%

753,807

40%

 

Retail sales by quarter for the year ending 31 August 2012

£'000s

Q11

YOY%

Q22

YOY%

Q3

YOY%

Q4

YOY%

2011/12

YOY%

UK retail sales

11%

4%

8%

15%

205,258

10%

   US retail sales

16,209

154%

6,928

66%

13,351

78%

13,097

65%

49,585

91%

   EU retail sales

40,118

37%

16,728

29%

30,224

27%

30,678

22%

117,748

29%

   ROW retail sales

49,654

196%

24,317

106%

43,912

71%

47,413

53%

165,296

94%

International retail sales

102%

66%

54%

42%

64%

Total retail sales

182,562

50%

80,359

34%

133,924

34%

141,042

31%

537,887

38%

 

1Four months to 31 December

2 Two months to 28 February 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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