Last checked at 9 Dec 2014 07:00
9 December 2014
ASOS plc ("the Company")
Global Online Fashion Destination
Trading Statement for the three months ended 30 November 2014
Three months to 30 November | ||||
£'000 | 2014 | 2013 | Increase | CCY^ increase |
UK retail sales | 104,804 | 84,370 | 24% | 24% |
US retail sales | 23,975 | 22,024 | 9% | 12% |
EU retail sales | 59,001 | 59,547 | (1%) | 7% |
ROW retail sales | 58,549 | 62,333 | (6%) | 0% |
Total International retail sales | 141,525 | 143,904 | (2%) | 4% |
Total retail sales | 246,329 | 228,274 | 8% | 12% |
Total group revenues* | 252,200 | 232,737 | 8% | 12% |
*Includes retail sales, delivery receipts and third party revenues.
^On constant exchange rate basis
Three months to 30 November 2014 highlights
· Retail sales +8% (UK +24%, International -2%)
· International retail sales 57% of total (63% last year)
· Retail gross margin down c.170 bps on prior year
· Mechanised pick solution at Barnsley now live
· Zonal live in UK, Australia and France
· Business interruption claim completed; further reimbursements received of £6.3m
· Strong balance sheet and cash position
Nick Robertson, CEO, commented:
"Total retail sales for the quarter grew by 8% (12% on a constant currency basis). September and October were challenging as we completed the automation programme in Barnsley in time for peak. Our sales have since gathered momentum and we had our biggest ever trading week over cyber weekend in November.
Our strong UK performance continued at +24%, however international retail sales declined by 2% (growth of 4% at constant currency). International trading conditions remain challenging.
We have commenced investment into our international pricing and have started to roll out our zonal pricing capability, which combined will help us to address our international performance. We continue to focus on our major investment programmes, upgrading our IT platform and investing in our logistics capability.
During the quarter, we received £6.3 million of insurance proceeds related to the fire at Barnsley in June, which we are deploying to accelerate our investment in international pricing. After taking this into account, we expect full year profits to be in line with expectations".
Analyst/Investor conference call:
ASOS will be hosting a conference call for analysts and investors at 8:30am (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-library.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 80,000 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 90 million visits during November 2014 (November 2013: 81 million) and as at 30 November 2014 had 9.0 million active customers1 (30 November 2013: 7.6 million), of which 3.6 million were located in the UK and 5.4 million were located in our international territories (30 November 2013: 3.0 million in the UK and 4.6 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% | 104,804 | 24% | ||||||
US retail sales | 23,975 | 9% | 23,975 | 9% | ||||||
EU retail sales | 59,001 | (1%) | 59,001 | (1%) | ||||||
ROW retail sales | 58,549 | (6%) | 58,549 | (6%) | ||||||
International retail sales | 141,525 | (2%) | 141,525 | (2%) | ||||||
Total retail sales | 246,329 | 8% | 246,329 | 8% |
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% | 104,804 | 24% | ||||||
US retail sales | 23,975 | 12% | 23,975 | 12% | ||||||
EU retail sales | 59,001 | 7% | 59,001 | 7% | ||||||
ROW retail sales | 58,549 | 0% | 58,549 | 0% | ||||||
International retail sales | 141,525 | 4% | 141,525 | 4% | ||||||
Total retail sales | 246,329 | 12% | 246,329 | 12% |
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