ASOS is Optimistic to Hit Growth Target for 2015

One of the UK's largest and most popular fashion e-tailer, ASOS, reported a strong fiscal third quarter with a 20% sales growth. In the four months leading up to June 30th, ASOS boosted its trade as its strategy of lowering prices internationally has evidently proved successful. Its domestic sales rose by 27% while its overseas retail market increased 16% in that third quarter. ASOS also boasts a reported customer base increasing 11% annually and reaching a whopping 9.7 million as we speak.

Industry member and CEO of ASOS, Nick Robertson.

The company stated that it expects its full-year sales growth to reach the higher end of the 15-20% predicted by retail analysts. However, ASOS's annual gross margin should only break even on a year ago. Industry member and ASOS chief executive, Nick Robertson explains: "After accounting for our price investments during the period, the full year gross margin is expected to remain in line with last year, assisted by tighter inventory control and strong full price sales. The company anticipates that sales for the full year will be at the higher end of its guided 15-20 percent growth range. We have increased investment in our people and our customer proposition, particularly in relation to free returns trials. We therefore expect EBIT margin to remain at the guided level of 4 percent," he added

This is great news for the clothing e-tailer which remains as popular as ever and is now driving that popularity forward in business terms. This comes as even better tidings for ASOS which experienced a really bad year in 2014 when the company suffered a string of profit warnings.