Last checked at 20 Mar 2013 07:00
20 March 2013
ASOS plc ("the Company")
Global Online Fashion Store
Trading Statement for the 3 months ended 28 February 2013
Q2 | Q2 | H1 | H1 | |||
£'000s | 2012/13 | 2011/12 | Increase | 2012/13 | 2011/12 | Increase |
UK retail sales | 75,526 | 59,025 | 28% | 137,579 | 108,967 | 26% |
US retail sales | 16,503 | 10,993 | 50% | 35,551 | 23,137 | 54% |
EU retail sales | 44,120 | 27,935 | 58% | 77,457 | 56,846 | 36% |
ROW retail sales | 50,319 | 37,848 | 33% | 101,676 | 73,971 | 37% |
Total International retail sales | 110,942 | 76,776 | 45% | 214,684 | 153,954 | 39% |
Total retail sales | 186,468 | 135,801 | 37% | 352,263 | 262,921 | 34% |
Total group revenues* | 190,300 | 139,234 | 37% | 359,731 | 269,926 | 33% |
* Includes retail sales, delivery receipts and third party revenues.
Q2 Highlights
·; Retail sales +37% year on year (UK +28%, International +45%)
·; International sales 59% of total (57% last year)
·; Retail gross margin down c.50bps on prior year (+350bps in Q2 2011/12)
·; 6 million active customers* at 28 February 2013 (+40% year on year)
*Defined as having shopped in the last 12 months
H1 Highlights
·; Retail sales +34% year on year (UK +26%, International +39%)
·; International sales mix 61% of total (59% last year)
·; Retail gross margin down c.60bps on prior year (+400bps in H1 2011/12)
Nick Robertson, CEO, commented:
"I am delighted with our robust first half performance and pleased to report strong trading for the three months to 28 February 2013 with total retail sales of £186m, up 37%, resulting in first half retail sales growth of +34% to £352m.
Our UK performance remained ahead of expectations at +28%, with particularly strong trading during the peak December period. Our International business grew by +45% and now accounts for 59% of our total retail sales. Our EU growth continues to be driven by strong performance in those countries where we have dedicated websites and particularly by our new in-country teams in France and Germany.
The strength of our UK performance continues to put pressure on our achieved retail gross margin. We expect this to improve during the remainder of the financial year as we annualise last year's price investments and achieve planned sourcing gains.
We remain positive in our outlook for the year to 31 August 2013 and continue to trade in line with expectations."
For further information:
ASOS plc |
Tel: 020 7756 1000 |
Nick Robertson, Chief Executive | |
Nick Beighton, Finance Director Greg Feehely, Head of Investor Relations | |
College Hill |
Tel: 020 7457 2020 |
Matthew Smallwood / Justine Warren / Jamie Ramsay |
|
JPMorgan Cazenove |
Tel: 020 7742 4000 |
Luke Bordewich / Gina Gibson | |
Numis Securities |
Tel: 020 7260 1000 |
Alex Ham |
Background note
ASOS is a global online fashion and beauty retailer and offers over 60,000 branded and own label product lines across womenswear, menswear, footwear, accessories, jewellery and beauty with approximately 1,500 new product lines being introduced each week.
Aimed at fashion forward twenty-somethings globally, ASOS attracts 19.8 million unique visitors a month (29 February 2012 15.6 million) and as at 28 February 2013 the Group had 11.1 million registered users (29 February 2012: 7.8 million) and 6.0 million active customers* (29 February 2012: 4.3 million) from over 230 countries and territories.
*Defined as having shopped in the last 12 months
www.asos.com
www.us.asos.com
www.asos.de
www.asos.fr
www.asos.com/au
www.asos.it
www.asos.es
m.asos.com
marketplace.asos.com
fashionfinder.asos.com
Appendix 1
Pro forma split of retail sales by quarter for the year ending 31 August 2013
£'000s | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% | YTD 2012/13 | YOY% |
UK retail sales | 62,053 | 24% | 75,526 | 28% | 137,579 | 26% | ||||
US retail sales | 19,048 | 57% | 16,503 | 50% | 35,551 | 54% | ||||
EU retail sales | 33,337 | 15% | 44,120 | 58% | 77,457 | 36% | ||||
ROW retail sales | 51,357 | 42% | 50,319 | 33% | 101,676 | 37% | ||||
International retail sales | 103,742 | 34% | 110,942 | 45% | 214,684 | 39% | ||||
Total retail sales | 165,795 | 30% | 186,468 | 37% | 352,263 | 34% |
Pro forma split of retail sales by quarter for the year ending 31 August 2012
£'000s | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% | 2011/12 | YOY% |
UK retail sales | 49,942 | 5% | 59,025 | 12% | 46,437 | 8% | 49,854 | 15% | 205,258 | 10% |
US retail sales | 12,144 | 190% | 10,993 | 73% | 13,351 | 78% | 13,097 | 65% | 49,585 | 91% |
EU retail sales | 28,911 | 55% | 27,935 | 18% | 30,224 | 27% | 30,678 | 22% | 117,748 | 29% |
ROW retail sales | 36,123 | 233% | 37,848 | 113% | 43,912 | 71% | 47,413 | 53% | 165,296 | 94% |
International retail sales | 77,178 | 129% | 76,776 | 61% | 87,487 | 54% | 91,188 | 42% | 332,629 | 64% |
Total retail sales | 127,120 | 57% | 135,801 | 35% | 133,924 | 34% | 141,042 | 31% | 537,887 | 38% |
Pro forma split of retail sales by quarter for the year ending 31 August 2011
£'000s | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% |
2010/11 | YOY% |
UK retail sales | 47,383 | 23% | 52,857 | 20% | 43,087 | 20% | 43,421 | 1% | 186,748 | 16% |
US retail sales | 4,186 | 254% | 6,365 | 227% | 7,480 | 176% | 7,919 | 144% | 25,950 | 186% |
EU retail sales | 18,647 | 79% | 23,576 | 105% | 23,714 | 68% | 25,110 | 77% | 91,047 | 81% |
ROW retail sales | 10,847 | 241% | 17,778 | 265% | 25,703 | 363% | 31,021 | 295% | 85,349 | 298% |
International retail sales | 33,680 | 128% | 47,719 | 161% | 56,897 | 154% | 64,050 | 153% | 202,346 | 151% |
Total retail sales | 81,063 | 53% | 100,576 | 62% | 99,984 | 71% | 107,471 | 58% | 389,094 | 61% |