ASOS full-year sales up 26%
Sales at young fashion etailer ASOS jumped 26% to £1.4bn in the year to 31 August 2016; CEO Nick Beighton declared he was "pleased"with the progress being made at the business.
ASOS reported strong growth in both UK and international sales, with UK sales up 27% at £604m and international sales up 25% to £800m (the US registered a 50% growth in sales and the EU 28%).
Pre-tax profits too were up significantly too by 37% at £63.7m, athough retail margin edged down by 30bps from 48.8% in 2015 to 48.5%.
Active customers grew by 25% to 12.4m and average basket value was up 3%. Order frequency too was improved by 4% and social media followers were up 54%, an important metric for the business that engages heavily with its millennial audience via social channels. ASOS now has 6.5m Facebook followers, 1.5m Twitter followers and 7.5m Instagram followers.
Beighton said the group, headquartered in Camden, will now "accelerate investment in both logistics and technology". "The pace at ASOS is continuing in the new financial year, which we are looking forward to with confidence," he said.
