Last checked at 19 Sep 2013 07:00
19 September 2013
ASOS plc ("the Company")
Global Online Fashion Destination
Trading Statement for the three months ended 31 August 2013
Three months to 31 August | Year to 31 August | |||||
£'000s | 2012/13 | 2011/12 | Increase | 2012/13 | 2011/12 | Increase |
UK retail sales | 74,101 | 49,854 | 49% | 276,027 | 205,258 | 34% |
US retail sales | 20,872 | 13,097 | 59% | 77,678 | 49,585 | 57% |
EU retail sales | 53,036 | 30,678 | 73% | 177,708 | 117,748 | 51% |
ROW retail sales | 59,922 | 47,413 | 26% | 222,394 | 165,296 | 35% |
Total International retail sales | 133,830 | 91,188 | 47% | 477,870 | 332,629 | 44% |
Total retail sales | 207,931 | 141,042 | 47% | 753,807 | 537,887 | 40% |
Total group revenues* | 212,466 | 145,168 | 46% | 769,394 | 552,854 | 39% |
* Includes retail sales, delivery receipts and third party revenues.
Q4 Highlights
· Retail sales +47% year on year (UK +49%, International +47%)
· International retail sales 64% of total (65% last year)
· Retail gross margin up c.460bps on prior year
· 7.1 million active customers* at 31 August 2013 (+42% year on year)
FY Highlights
· Retail sales +40% year on year (UK +34%, International +44%)
· International retail sales mix 63% of total (62% last year)
· Retail gross margin up c.100bps on prior year
· Strong balance sheet and cash position
*Defined as having shopped in the last 12 months
Nick Robertson, CEO, commented:
"I am pleased to report a strong finish to the financial year with retail sales growth for the fourth quarter up 47% to £208 million, and up 40% to £754 million for the full year to 31 August 2013.
Retail sales growth during Q4 was strong in both the UK at +49% and Internationally at +47%. International growth continues to be driven by the countries in which we have dedicated websites and in-country teams, and was particularly strong in Europe, driven by France, Germany, Italy and Spain. We also saw strong growth in the US and in Russia, following the launch of our Russian website. International equated to 64% of our total retail sales over the period compared with 65% last year, reflecting the strength of our core UK business during the quarter.
We have now annualised last year's price investments and retail gross margin for the quarter grew by c.460bps year on year. This strong gross margin position has allowed us to continue to invest in the overall customer offer, attracting more active customers which now stand at 7.1 million.
We expect profit before tax for the year ended 31 August 2013 to be marginally above expectations."
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 College Hill for dial-in details on 020 7457 2047 or email jamie.ramsay@collegehill.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 | |
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 selling over 65,000 branded and own-label products to fashion forward twenty-somethings through our website, asos.com. We ship, for free, to 237 countries from our 1.1 million square foot global distribution centre in the UK.
We tailor the mix of own label, global and local brands sold through each of our eight local language websites: UK, USA, France, Germany, Spain, Italy, Australia and Russia.
ASOS's websites attract 21.3 million unique visitors a month (31 August 2012: 18.8 million) and as at 31 August 2013 had 13.2 million registered users (31 August 2012: 9.2 million) and 7.1 million active customers* (31 August 2012: 5.0 million).
*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
www.asos.com/ru
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% |
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% |
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% |