ASOS reports 20% growth in sales

Online fashion retailer ASOS has reported that its latest sales figures were up 20% on last year’s performance. The company notched up total retail sales of more than £386m for the four months up to 30 June. In the UK, the company’s biggest single market, ASOS increased its retails sales by 27% to more than £158m.

CEO Nick Robertson commented: “After accounting for our price investments during the period, the full year gross margin is nonetheless expected to remain in line with last year, assisted by tighter inventory control and strong full price sales. We anticipate that sales for the full year will be at the higher end of our guided 15-20% 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 c.4%.”