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Asos Q1 sales up 31% Tuesday, 10th July 2012
Asos has reported a 31 per cent rise in first-quarter sales this morning after strong performance in the United States and Australia boosted performance.
The fashion e-tailer reported sales of £137 million in the three months to 30 June. Sales in the United Kingdom grew 8 per cent.
Asos also reported strong performance in international markets, with international sales now accounting for 65 per cent of the group’s total. This figure is up from 57 per cent last year.
Sales in the United States rocketed 83 per cent while sales in the European Union grew 27 per cent. In the rest of the world, namely Australia, sales were up 61 per cent in Q1.
Matthew McEachran, senior retail analyst at Singer Capital Markets, commented: "With gross margin currently tracking at least in line with full-year guidance, Asos is performing extremely well. We expect overall sales growth to accelerate as the year goes on."
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