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Asos reports 14% rise in retail sales to reach £536m

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By John Glenday, Reporter

April 1, 2015 | 2 min read

Online fashion brand Asos has reported a 14 per cent rise in retail sales for the six months ended 28 February 2015 to hit £536m, although profit before tax actually fell by 10 per cent to £18m owing to an investment drive.

The double digit rise comes following the retailers appointment of Clifford Cohen as CIO and positions its suite of websites as a fashion hub, selling a mixture of own label, global and local brands.

Nick Robertson, Asos CEO, commented: “Trading for the six months ended 28 February 2015 included a record Christmas season, with total sales increasing by 14 per cent. UK growth remained strong with sales up +27 per cent and International sales up +5 per cent (+10 per cent on a constant currency basis). Our customer engagement remains high, with growth in visits, average order frequency, average basket size and conversion all improving. Our active customers grew by 13 per cent, exceeding the 9 million mark for the first time.

“The successful launch of our zonal pricing capability and planned investment in our international prices resulted in a gross margin decrease of 230bps during the period, which together with increased investment in building our global distribution capacity, has reduced half year profit before tax by 10 per cent to £18.0m.

“With our continued investment in our international price competitiveness gaining traction, momentum in the business is building. This gives us confidence in the outlook for the second half and that full year profit and margin will be in line with expectations.”

During February Asos generated 88 million website views.

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