Trading Statement

RNS Number : 7421R
ASOS PLC
16 September 2014
 



 

16 September 2014

 

ASOS plc ("the Company")

Global Online Fashion Destination

Trading Statement for the three months ended 31 August 2014

 


 Three months to 31 August

Year to 31 August

£'000s

2014

2013

Increase

CCY^

increase

2014

2013

Increase

CCY^

increase

UK retail sales

98,321

74,101

33%

33%

372,241

276,027

35%

35%

   US retail sales

20,797

20,872

0%

10%

77,678

19%

25%

   EU retail sales

64,049

53,036

21%

29%

177,708

44%

45%

   ROW retail sales

56,854

59,922

(5%)

3%

234,358

222,394

5%

15%

Total International retail sales

141,700

133,830

6%

14%

583,054

477,780

22%

28%

Total retail sales

240,021

207,931

15%

21%

955,295

753,807

27%

30%










Total group revenues*

245,663

212,466

16%

22%

975,470

769,396

27%

30%

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

^On constant exchange rate basis

 

Three months to 31 August 2014 highlights

·    Retail sales +15% (UK +33%, International +6%)

·    International retail sales 59% of total (64% last year)

·    Retail gross margin down c.640 bps on prior year

·    8.8 million active customers1 at 31 August  2014 (+25% year on year)

 

Year to 31 August 2014 highlights

·    Retail sales +27% (UK +35%, International +22%)

·    International retail sales 61% of total (63% last year)

·    Retail gross margin down c.230 bps on prior year

·    Strong balance sheet and cash position

 

Nick Robertson, CEO, commented:

"Our UK performance remained strong over the final quarter, with sales increasing 33%. Our International business grew 6% or 14% in constant currency. However, due to the fire at our Barnsley distribution centre, we lost sales during the quarter of between £25m and £30m with a retail gross margin impact of c.200 basis points. After adjusting for insurance proceeds, we expect profit before tax for the year to be in line with market expectations.

Engagement with our customers remains positive with a 25% growth in active customers and increases in order frequency, conversion rate and average basket value. Sales for the year as a whole increased by 27%.

In the new financial year we'll make significant investments in our international pricing and proposition, as well as in our logistical infrastructure and technology platform. As a result, we expect profit before tax for the year to 31 August 2015 to be at a similar level to 2013/14.

We remain focussed on the long term opportunity for ASOS, with £2.5bn of sales as our next staging post".

 

Analyst/Investor conference call:

ASOS will be hosting a conference call for analysts and investors at 8:30am (UK Time) today. Please call Antonia Pollock at Instinctif Partners for dial-in details on 0207 457 2857 or email antonia.pollock@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 / Antonia Pollock 

 



 

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 90,000 branded and own-brand products through localised mobile and web experiences, delivering from our fulfilment centres in the UK, US, Europe and China 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 71.2 million visits per month (August 2013: 68.5 million) and as at 31 August 2014 had 8.8 million active customers1 (31 August 2013: 7.1 million), of which 3.4 million were located in the UK and 5.4 million were located in our international territories (31 August 2013: 2.8 million in the UK and 4.3 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%

 

 2013/14  

YOY%

UK retail sales

133,667

37%

48,373

21%

91,880

43%

98,321

33%

372,241

35%

   US retail sales

32,253

28%

14,496

41%

24,765

17%

20,797

0%

92,311

19%

   EU retail sales

87,295

69%

40,331

57%

64,710

37%

64,049

21%

256,385

44%

   ROW retail sales

82,450

19%

33,454

3%

61,600

1%

56,854

(5%)

234,358

5%

International retail sales

201,998

38%

88,281

29%

151,075

17%

141,700

6%

583,054

22%

Total retail sales

335,665

38%

136,654

26%

242,955

25%

240,021

15%

955,295

27%

 

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

97,713

28%

39,866

23%

64,347

39%

74,101

49%

276,027

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

146,143

38%

68,541

43%

129,266

48%

133,830

47%

477,780

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

76,581

11%

32,386

4%

46,437

8%

49,854

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

105,981

102%

47,973

66%

87,487

54%

91,188

42%

332,629

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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