Last checked at 20 Apr 2010 07:00
ASOS plc
Trading update for the year ended 31 March 2010
Leading online fashion store
Strong growth continues both in the UK and Internationally
·; Total sales* for the 12 months to 31 March 2010 up 35% to £223m.
·; Retail sales for the 12 months to 31 March 2010 up 38% to £206m.
o UK retail sales up 23%, International retail sales up 101%, (28% of retail sales).
·; Profit before tax for the year expected to be in line with market expectations.
·; Sales have accelerated since year end, retail sales for the 19 days to 19 April 2010 up 56% (UK up 25%), International up 148%.
·; Looking forward to another year of strong growth both in the UK and Internationally.
* Total sales includes retail and third party sales and postage and packaging revenue
Nick Robertson, Chief Executive, made the following comments.
"It was another excellent year for ASOS, total sales rose 35% and profit before tax is likely to be in line with market expectations. The year was characterised by more conservative planning, specifically around stock levels, a focus on operational and financial controls and the introduction of key customer initiatives such as free returns. Simultaneously we have been developing our International business and remain on track to launch our US, French and German websites this year.
The new year has started very positively, retail sales are up 56% in April (UK +25% and International +148%) the top 6 international markets being US, Denmark, France, Australia, Ireland and Germany respectively.
We are approaching this year with considerably more confidence. Demand for our spring / summer ranges have been very strong and the Internet continues to outperform the other retail channels".
Preliminary results and future trading updates
ASOS will announce its preliminary results for the year ended 31 March 2009 on Wednesday 9 June 2010, when it will provide a full overview and update on the business.
ASOS will move to quarterly trading updates for the 2011 financial year and the announcement dates will shortly be available on the Group's website (www.asos.com).
20 April 2010
For further information:
| ASOS plc | 0207 756 1000 |
| Nick Robertson, Chief Executive |
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| Nick Beighton, Finance Director |
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| Website: www.asos.com |
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College Hill |
020 7457 2020 |
| Matthew Smallwood |
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| Justine Warren |
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| Jamie Ramsay |
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JPMorgan |
020 7588 2828 |
| Luke Bordewich |
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| Gina Gibson |
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Numis Securities |
020 7260 1000 |
| Alex Ham |
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Background note
Established in June 2000 and admitted to AIM in October 2001, ASOS.com is the UK's largest independent online fashion and beauty retailer and offers over 35,000 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 primarily at fashion forward 16-34 year olds, ASOS.com attracts over 7.5 million unique visitors a month and as at 31 March 2010 had 3.6 million registered users and 1.6 million active customers (defined as having shopped in the last 6 months).