ASOS has strong finish to 2016 with sales up 36%
ASOS finished 2016 on a high with total retail sales in the four months to 31 December up 36% after a strong Black Friday and Christmas trading period.
Total group revenue for the period hit £621.3m with UK sales up 18% at £244m and US sales up 66% at £82.7m. Overall international sales were up 52% at £361.7m.
Customer engagement KPIs improved over the period with active customers up 25%, order value up 2% and order frequency up 6%. Total orders shipped hit 15.5m, up 35%.
The business, which positions itself as a go-to global fashion destination for 20-somethings, says it will be investing to supported its future growth. Sales growth guidance for FY17 has been upped to 25-30% and capital exposure for the current financial year is expected to be in the £150m-£170m range.
ASOS CEO Nick Beighton said 2017 had also got off to a strong start. "Following record sales over Cyber weekend and the Christmas trading period, I’m pleased to report a strong start to the year. A 50% plus increase in international sales is a standout performance. UK sales growth at 18% was a strong performance in a more promotional market," he said.
"With sales for the year now expected to be up by circa 25% to 30%, we’re accelerating our infrastructure investment to handle that growth. ASOS remains well set to meet its longer-term ambitions as a result of the hard work and commitment of the team," Beighton added.
ASOS HQ at Greater London House in Camden: 1,500 jobs to be created
It was revealed at the end of last year that ASOS would be creating 1,500 more jobs at its London HQ in Camden over the next three years and significantly investing in its premises to introduce facilities such as a health club, concierge service and tech bar.
