Sign In
Last checked at 
5 Jun 2014 07:00
5 June 2014
ASOS plc ("the Company")
Global Online Fashion Destination
Trading Statement for the three months ended 31 May 2014
Three months to 31 May | Nine months to 31 May | |||||||
£'000s | 2014 | 2013 | Increase | CCY^ increase | 2014 | 2013 | Increase | CCY^ increase |
UK retail sales | 91,880 | 64,347 | 43% | 43% | 273,920 | 201,926 | 36% | 36% |
US retail sales | 24,765 | 21,255 | 17% | 28% | 71,514 | 56,806 | 26% | 31% |
EU retail sales | 64,710 | 47,215 | 37% | 42% | 192,336 | 124,672 | 54% | 52% |
ROW retail sales | 61,600 | 60,796 | 1% | 16% | 177,504 | 162,472 | 9% | 20% |
Total International retail sales | 151,075 | 129,266 | 17% | 28% | 441,354 | 343,950 | 28% | 33% |
Total retail sales | 242,955 | 193,613 | 25% | 33% | 715,274 | 545,876 | 31% | 34% |
Total group revenues* | 248,081 | 197,199 | 26% | 34% | 729,807 | 556,930 | 31% | 34% |
*Includes retail sales, delivery receipts and third party revenues.
^On constant exchange rate basis
Three months to 31 May 2014 highlights
· Retail sales +25% year on year (UK +43%, International +17%)
· International retail sales 62% of total (67% last year)
· Retail gross margin down c.370bps on prior year
· 8.6 million active customers* at 31 May 2014 (+32% year on year)
· Strong balance sheet and cash position
*Defined as having shopped in the last 12 months
Nick Robertson, CEO, commented:
"Retail sales for the quarter were strong, increasing by 25% (+33% at constant exchange rates) with particularly strong growth in the UK of 43%. However, Sterling's continued strengthening has resulted in a slowdown in our international sales growth to 17% (+28% at constant exchange rates).
The resultant higher mix of UK and European sales, with lower retail margins, together with increased levels of promotional activity, leads us to reduce our EBIT margin guidance to c.4.5% from c.6.5% for the current financial year.
Whilst our profit performance for this financial year is not what we had hoped for due to an unusual combination of factors, our accelerated investment in technology and infrastructure to support our £2.5bn sales ambition is progressing and capex remains within guided levels. All customer metrics - active customers, new customers, order frequency and units per basket - are positive and we are totally focussed on rolling out the ASOS business model globally as the world's leading online fashion destination for 20-somethings."
Analyst/Investor conference call:
ASOS will be hosting a conference call for analysts and investors at 8:30am (UK Time) today. Please call Jamie Ramsay at Instinctif Partners for dial-in details on 020 7457 2047 or email jamie.ramsay@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, Finance Director Greg Feehely, Head of Investor Relations | |
Instinctif Partners |
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 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 UK hub 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 attract 83 million visits per month (May 2013: 69 million) and as at 31 May 2014 had 8.6 million active customers1 (31 May 2013: 6.5 million), of which 3.3 million were located in the UK and 5.3 million were located in our international territories (31 May 2013: 2.7 million in the UK and 3.8 million internationally).
1 Defined as having shopped in the last 12 months
www.asos.com www.asos.eswww.us.asos.com www.asos.com/ru
www.asos.de www.asos.cnwww.asos.fr m.asos.com
www.asos.com/au marketplace.asos.com
www.asos.it fashionfinder.asos.com
Appendix 1
Retail sales by quarter for the year ending 31 August 2014
£'000s | Q11 | YOY% | Q22 | YOY% | Q3 | YOY% | Q4 | YOY% | YTD 2013/14 | YOY% |
UK retail sales | 133,667 | 37% | 48,373 | 21% | 91,880 | 43% | 273,920 | 36% | ||
US retail sales | 32,253 | 28% | 14,496 | 41% | 24,765 | 17% | 71,514 | 26% | ||
EU retail sales | 87,295 | 69% | 40,331 | 57% | 64,710 | 37% | 192,336 | 54% | ||
ROW retail sales | 82,450 | 19% | 33,454 | 3% | 61,600 | 1% | 177,504 | 9% | ||
International retail sales | 201,998 | 38% | 88,281 | 29% | 151,075 | 17% | 441,354 | 28% | ||
Total retail sales | 335,665 | 38% | 136,654 | 26% | 242,955 | 25% | 715,274 | 31% |
Retail sales by quarter for the year ending 31 August 2013
£'000s | Q11 | YOY% | Q22 | YOY% | Q3 | YOY% | Q4 | YOY% |
2012/13 | YOY% |
UK retail sales | 97,713 | 28% | 39,866 | 23% | 64,347 | 39% | 74,101 | 49% | 276,027 | 34% |
US retail sales | 25,280 | 56% | 10,271 | 48% | 21,255 | 59% | 20,872 | 59% | 77,678 | 57% |
EU retail sales | 51,780 | 29% | 25,677 | 53% | 47,215 | 56% | 53,036 | 73% | 177,708 | 51% |
ROW retail sales | 69,083 | 39% | 32,593 | 34% | 60,796 | 38% | 59,922 | 26% | 222,394 | 35% |
International retail sales | 146,143 | 38% | 68,541 | 43% | 129,266 | 48% | 133,830 | 47% | 477,780 | 44% |
Total retail sales | 243,856 | 34% | 108,407 | 35% | 193,613 | 45% | 207,931 | 47% | 753,807 | 40% |
Retail sales by quarter for the year ending 31 August 2012
£'000s | Q11 | YOY% | Q22 | YOY% | Q3 | YOY% | Q4 | YOY% | 2011/12 | YOY% |
UK retail sales | 76,581 | 11% | 32,386 | 4% | 46,437 | 8% | 49,854 | 15% | 205,258 | 10% |
US retail sales | 16,209 | 154% | 6,928 | 66% | 13,351 | 78% | 13,097 | 65% | 49,585 | 91% |
EU retail sales | 40,118 | 37% | 16,728 | 29% | 30,224 | 27% | 30,678 | 22% | 117,748 | 29% |
ROW retail sales | 49,654 | 196% | 24,317 | 106% | 43,912 | 71% | 47,413 | 53% | 165,296 | 94% |
International retail sales | 105,981 | 102% | 47,973 | 66% | 87,487 | 54% | 91,188 | 42% | 332,629 | 64% |
Total retail sales | 182,562 | 50% | 80,359 | 34% | 133,924 | 34% | 141,042 | 31% | 537,887 | 38% |
1Four months to 31 December
2 Two months to 28 February
Follow the stocks
