ASOS on track to deliver £1bn in sales during 2013
Online retailer ASOS has said that it remains on track to meet its ambition of £1 billion in sales,having seen a rise in group retail sales of 34 per cent to £352.3m during the six months leading up to the end of February.
In a performance update. ASOS revealed a growth in UK retail sales of 26 per cent and generated a group growth profit of £179.6m, an increase of 31 per cent during the six month period, with international retail sales accounting for 61 per cent of its total retail sales.
Pre-tax profit with exception items also increased by 11 per cent to £25.7m as the company saw a growth in active customers to 6m, in comparison to 4.3m recorded during the same period the previous year.
Nick Robertson, CEO, commented: “We have continued to invest in all aspects of the customer offer to maximisethe growth opportunity; investing in product price and quality, enhanced delivery options, a broad range of marketing initiatives, focused local teams in international territories and continual improvement to our technology platforms, most notably mobile and international sites.
“Progress on our dedicated sites for both Russia and China remains on track. We are already seeing the benefits of this investment across all territories with increased customer awareness, increased shopper frequency, higher conversion rates, more items per basket and strong sales growth. At the same time we have reached the milestone of six million active customers worldwide.
He continued: "Momentum is strong, and we remain positive in our outlook for 2012/13 as we continue our journey to becoming the number one online fashion destination for twenty-somethings, globally. Our International roll out continues and our £1 billion sales ambition for the Group is firmly in our sights."
The company is currently expanding its operation into the Chinese market and now operates across five ket ‘strategic countries; the UK, US, Australia, France and Germany, while dedicated websites have been launched in Italy and Spain and a focus being placed on growth in China and Russia.