Trading Statement

RNS Number : 3914A

ASOS PLC

20 March 2013

 



20 March 2013

ASOS plc ("the Company")

Global Online Fashion Store

Trading Statement for the 3 months ended 28 February 2013

	Q2	Q2		H1	H1
£'000s	2012/13	2011/12	Increase	2012/13	2011/12	Increase
UK retail sales	75,526	59,025	28%	137,579	108,967	26%
US retail sales	16,503	10,993	50%	35,551	23,137	54%
EU retail sales	44,120	27,935	58%	77,457	56,846	36%
ROW retail sales	50,319	37,848	33%	101,676	73,971	37%
Total International retail sales	110,942	76,776	45%	214,684	153,954	39%
Total retail sales	186,468	135,801	37%	352,263	262,921	34%
Total group revenues*	190,300	139,234	37%	359,731	269,926	33%

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

Q2 Highlights

·      Retail sales +37% year on year (UK +28%, International +45%)

·      International sales 59% of total (57% last year)

·      Retail gross margin down c.50bps on prior year (+350bps in Q2 2011/12)

·      6 million active customers* at 28 February 2013 (+40% year on year)

*Defined as having shopped in the last 12 months

H1 Highlights

·      Retail sales +34% year on year (UK +26%, International +39%)

·      International sales mix 61% of total (59% last year)

·      Retail gross margin down c.60bps on prior year (+400bps in H1 2011/12)

Nick Robertson, CEO, commented:

"I am delighted with our robust first half performance and pleased to report strong trading for the three months to 28 February 2013 with total retail sales of £186m, up 37%, resulting in first half retail sales growth of +34% to £352m.

Our UK performance remained ahead of expectations at +28%, with particularly strong trading during the peak December period. Our International business grew by +45% and now accounts for 59% of our total retail sales. Our EU growth continues to be driven by strong performance in those countries where we have dedicated websites and particularly by our new in-country teams in France and Germany.

The strength of our UK performance continues to put pressure on our achieved retail gross margin. We expect this to improve during the remainder of the financial year as we annualise last year's price investments and achieve planned sourcing gains.

We remain positive in our outlook for the year to 31 August 2013 and continue to trade in line with expectations."

For further information:

ASOS plc	Tel: [phone]
Nick Robertson, Chief Executive
Nick Beighton, Finance Director Greg Feehely, Head of Investor Relations
College Hill	Tel: [phone]
Matthew Smallwood / Justine Warren / Jamie Ramsay
JPMorgan Cazenove	Tel: [phone]
Luke Bordewich / Gina Gibson
Numis Securities	Tel: [phone]
Alex Ham

Background note

ASOS is a global online fashion and beauty retailer and offers over 60,000 branded and own label product lines across womenswear, menswear, footwear, accessories, jewellery and beauty with approximately 1,500 new product lines being introduced each week.

Aimed at fashion forward twenty-somethings globally, ASOS attracts 19.8 million unique visitors a month (29 February 2012 15.6 million) and as at 28 February 2013 the Group had 11.1 million registered users (29 February 2012: 7.8 million) and 6.0 million active customers* (29 February 2012: 4.3 million) from over 230 countries and territories.

*Defined as having shopped in the last 12 months

www.asos.com 

www.us.asos.com

www.asos.de

www.asos.fr

www.asos.com/au

www.asos.it

www.asos.es

m.asos.com

marketplace.asos.com

fashionfinder.asos.com

Appendix 1

Pro forma split of retail sales by quarter for the year ending 31 August 2013

£'000s	Q1	YOY%	Q2	YOY%	Q3	YOY%	Q4	YOY%	YTD 2012/13	YOY%
UK retail sales	62,053	24%	75,526	28%					137,579	26%
US retail sales	19,048	57%	16,503	50%					35,551	54%
EU retail sales	33,337	15%	44,120	58%					77,457	36%
ROW retail sales	51,357	42%	50,319	33%					101,676	37%
International retail sales	103,742	34%	110,942	45%					214,684	39%
Total retail sales	165,795	30%	186,468	37%					352,263	34%

Pro forma split of retail sales by quarter for the year ending 31 August 2012

£'000s	Q1	YOY%	Q2	YOY%	Q3	YOY%	Q4	YOY%	2011/12	YOY%
UK retail sales	49,942	5%	59,025	12%	46,437	8%	49,854	15%	205,258	10%
US retail sales	12,144	190%	10,993	73%	13,351	78%	13,097	65%	49,585	91%
EU retail sales	28,911	55%	27,935	18%	30,224	27%	30,678	22%	117,748	29%
ROW retail sales	36,123	233%	37,848	113%	43,912	71%	47,413	53%	165,296	94%
International retail sales	77,178	129%	76,776	61%	87,487	54%	91,188	42%	332,629	64%
Total retail sales	127,120	57%	135,801	35%	133,924	34%	141,042	31%	537,887	38%

Pro forma split of retail sales by quarter for the year ending 31 August 2011

£'000s	Q1	YOY%	Q2	YOY%	Q3	YOY%	Q4	YOY%	2010/11	YOY%
UK retail sales	47,383	23%	52,857	20%	43,087	20%	43,421	1%	186,748	16%
US retail sales	4,186	254%	6,365	227%	7,480	176%	7,919	144%	25,950	186%
EU retail sales	18,647	79%	23,576	105%	23,714	68%	25,110	77%	91,047	81%
ROW retail sales	10,847	241%	17,778	265%	25,703	363%	31,021	295%	85,349	298%
International retail sales	33,680	128%	47,719	161%	56,897	154%	64,050	153%	202,346	151%
Total retail sales	81,063	53%	100,576	62%	99,984	71%	107,471	58%	389,094	61%

 

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