Last checked at 12 Mar 2015 07:00
12 March 2015
ASOS plc ("the Company")
Global Online Fashion Destination
Trading Statement for the three months ended 28 February 2015
Three months to 28 February | Six months to 28 February | |||||||
£'000 | 2015 | 2014 | Increase | CCY^ increase | 2015 | 2014 | Increase | CCY^ increase |
UK retail sales | 126,566 | 97,670 | 30% | 30% | 231,370 | 182,040 | 27% | 27% |
US retail sales | 30,553 | 24,725 | 24% | 16% | 54,528 | 46,749 | 17% | 14% |
EU retail sales | 77,227 | 68,079 | 13% | 21% | 136,228 | 127,626 | 7% | 14% |
ROW retail sales | 55,754 | 53,571 | 4% | 10% | 114,303 | 115,904 | (1%) | 5% |
Total International retail sales | 163,534 | 146,375 | 12% | 16% | 305,059 | 290,279 | 5% | 10% |
Total retail sales | 290,100 | 244,045 | 19% | 22% | 536,429 | 472,319 | 14% | 17% |
Total group revenue1 | 298,274 | 248,989 | 20% | 22% | 550,474 | 481,726 | 14% | 17% |
1Includes retail sales, delivery receipts and third party revenues
^ On constant exchange rate basis
Three months to 28 February 2015 highlights
· Retail sales up 19% (UK retail sales up 30%, International retail sales up 12%)
· International retail sales 56% of total (60% last year)
· Retail gross margin down c.320 bps on prior year
Six months to 28 February 2015 highlights
· Retail sales up 14% (UK retail sales up 27%, International retail sales up 5%)
· International retail sales 57% of total (61% last year)
· Retail gross margin down c.270 bps on prior year
· 9.3 million active customers2 at 28 February 2015, up 13% on prior year
· Strong balance sheet and cash position
2Defined as having shopped in the last 12 months
Nick Robertson, CEO, commented:
"Retail sales for the three months to 28 February 2015 grew by +19% (+22% on a constant currency basis), with strong growth continuing in the UK at +30%. We have also seen encouraging momentum in our international markets during the quarter at +12% (+16% on a constant currency basis) following the successful roll out of our zonal pricing capability and our planned price investments.
Our investments in our warehouse and IT platforms are on track. We expect profit before tax for the full year to be in line with market expectations."
Analyst/Investor conference call:
ASOS will be hosting a conference call for analysts and investors at 8:00am (UK Time) today. Please call Guy Scarborough at Instinctif Partners for dial-in details on 020 7457 2047 or email guy.scarborough@instinctif.com.
A recording of this conference call will be available on the ASOS Plc investor centre website later today: http://www.asosplc.com/investors.aspx
Photography:
Latest photography will be available at: http://www.asosplc.com/media/image-gallery/consumer.aspx
For further information:
ASOS plc | Tel: 020 7756 1000 |
Nick Robertson, Chief Executive | |
Nick Beighton, Chief Financial Officer / Chief Operating Officer Greg Feehely, Head of Investor Relations | |
Instinctif Partners |
Tel: 020 7457 2020 |
Matthew Smallwood / Justine Warren / Guy Scarborough |
|
JPMorgan Cazenove |
Tel: 020 7742 4000 |
Luke Bordewich | |
Numis Securities |
Tel: 020 7260 1000 |
Alex Ham |
Background note
ASOS is a global fashion destination for 20-somethings. We sell cutting-edge 'fast fashion' and offer a wide variety of fashion-related content, making ASOS.com the hub of a thriving fashion community. We sell over 75,000 branded and own-brand products through localised mobile and web experiences, delivering from our fulfilment centres in the UK, US, Europe and China to almost every country in the world.
We tailor the mix of own-label, global and local brands sold through each of our nine local language websites: UK, US, France, Germany, Spain, Italy, Australia, Russia and China.
ASOS's websites attracted 88 million visits during February 2015 (February 2014: 71 million) and as at 28 February 2015 had 9.3 million active customers1 (28 February 2014: 8.2 million), of which 3.7 million were located in the UK and 5.6 million were located in our international territories (28 February 2014: 3.2 million in the UK and 5.0 million internationally).
1 Defined as having shopped in the last 12 months
www.asos.com | www.asos.es |
www.us.asos.com | www.asos.com/ru |
www.asos.de | www.asos.cn |
www.asos.fr | m.asos.com |
www.asos.com/au | marketplace.asos.com |
www.asos.it | fashionfinder.asos.com |
Appendix 1 - Retail sales growth by quarter1 in sterling
Year ending 31 August 2015
£'000 | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% |
2014/15 YTD | YOY% |
UK retail sales | 104,804 | 24% | 126,566 | 30% | 231,370 | 27% | ||||
US retail sales | 23,975 | 9% | 30,553 | 24% | 54,528 | 17% | ||||
EU retail sales | 59,001 | (1%) | 77,227 | 13% | 136,228 | 7% | ||||
ROW retail sales | 58,549 | (6%) | 55,754 | 4% | 114,303 | (1%) | ||||
International retail sales | 141,525 | (2%) | 163,534 | 12% | 305,059 | 5% | ||||
Total retail sales | 246,329 | 8% | 290,100 | 19% | 536,429 | 14% |
Year ending 31 August 2014
£'000 | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% |
2013/14 | YOY% |
UK retail sales | 84,370 | 36% | 97,670 | 29% | 91,880 | 43% | 98,321 | 33% | 372,241 | 35% |
US retail sales | 22,024 | 16% | 24,725 | 50% | 24,765 | 17% | 20,797 | 0% | 92,311 | 19% |
EU retail sales | 59,547 | 79% | 68,079 | 54% | 64,710 | 37% | 64,049 | 21% | 256,385 | 44% |
ROW retail sales | 62,333 | 21% | 53,571 | 6% | 61,600 | 1% | 56,854 | (5%) | 234,358 | 5% |
International retail sales | 143,904 | 39% | 146,375 | 32% | 151,075 | 17% | 141,700 | 6% | 583,054 | 22% |
Total retail sales | 228,274 | 38% | 244,045 | 31% | 242,955 | 25% | 240,021 | 15% | 955,295 | 27% |
Year ending 31 August 2013
£'000 | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% | 2012/13 | YOY% |
UK retail sales | 62,053 | 24% | 75,526 | 28% | 64,347 | 39% | 74,101 | 49% | 276,027 | 34% |
US retail sales | 19,048 | 57% | 16,503 | 50% | 21,255 | 59% | 20,872 | 59% | 77,678 | 57% |
EU retail sales | 33,337 | 15% | 44,120 | 58% | 47,215 | 56% | 53,036 | 73% | 177,708 | 51% |
ROW retail sales | 51,357 | 42% | 50,319 | 33% | 60,796 | 38% | 59,922 | 26% | 222,394 | 35% |
International retail sales | 103,742 | 34% | 110,942 | 45% | 129,266 | 48% | 133,830 | 47% | 477,780 | 44% |
Total retail sales | 165,795 | 30% | 186,468 | 37% | 193,613 | 45% | 207,931 | 47% | 753,807 | 40% |
1 Quarterly periods are as follows:
Q1: three months to 30 November
Q2: three months to 28 February
Q3: three months to 31 May
Q4: three months to 31 August
Appendix 2 - Retail sales growth by quarter1 at constant currency
Year ending 31 August 2015
£'000 | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% |
2014/15 YTD | YOY% |
UK retail sales | 104,804 | 24% | 126,566 | 30% | 231,370 | 27% | ||||
US retail sales | 23,975 | 12% | 30,553 | 16% | 54,528 | 14% | ||||
EU retail sales | 59,001 | 7% | 77,227 | 21% | 136,228 | 14% | ||||
ROW retail sales | 58,549 | 0% | 55,754 | 10% | 114,303 | 5% | ||||
International retail sales | 141,525 | 4% | 163,534 | 16% | 305,059 | 10% | ||||
Total retail sales | 246,329 | 12% | 290,100 | 22% | 536,429 | 17% |
Year ending 31 August 2014
£'000 | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% |
2013/14 | YOY% |
UK retail sales | 84,370 | 36% | 97,670 | 29% | 91,880 | 43% | 98,321 | 33% | 372,241 | 35% |
US retail sales | 22,024 | 15% | 24,725 | 53% | 24,765 | 28% | 20,797 | 10% | 92,311 | 25% |
EU retail sales | 59,547 | 68% | 68,079 | 51% | 64,710 | 42% | 64,049 | 29% | 256,385 | 45% |
ROW retail sales | 62,333 | 27% | 53,571 | 16% | 61,600 | 16% | 56,854 | 3% | 234,358 | 15% |
International retail sales | 143,904 | 38% | 146,375 | 36% | 151,075 | 28% | 141,700 | 14% | 583,054 | 28% |
Total retail sales | 228,274 | 37% | 244,045 | 33% | 242,955 | 33% | 240,021 | 21% | 955,295 | 30% |
Year ending 31 August 2013
£'000 | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% | 2012/13 | YOY% |
UK retail sales | 62,053 | 24% | 75,526 | 28% | 64,347 | 39% | 74,101 | 49% | 276,027 | 34% |
US retail sales | 19,048 | 57% | 16,503 | 54% | 21,255 | 54% | 20,872 | 55% | 77,678 | 55% |
EU retail sales | 33,337 | 25% | 44,120 | 63% | 47,215 | 52% | 53,036 | 62% | 177,708 | 51% |
ROW retail sales | 51,357 | 42% | 50,319 | 33% | 60,796 | 36% | 59,922 | 28% | 222,394 | 34% |
International retail sales | 103,742 | 38% | 110,942 | 47% | 129,266 | 44% | 133,830 | 44% | 477,780 | 43% |
Total retail sales | 165,795 | 33% | 186,468 | 39% | 193,613 | 42% | 207,931 | 45% | 753,807 | 40% |
1Quarterly periods are as follows:
Q1: three months to 30 November
Q2: three months to 28 February
Q3: three months to 31 May
Q4: three months to 31 August