Trading Statement

RNS Number : 1755Z
ASOS PLC
09 December 2014
 



 

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

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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