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Asos overseas sales overtake UK sales for first time | Asos overseas sales overtake UK sales for first time |
(about 7 hours later) | |
Online fashion retailer Asos has said that overseas sales have overtaken those in the UK for the first time. | Online fashion retailer Asos has said that overseas sales have overtaken those in the UK for the first time. |
In the three months to the end of March, international sales rose 161% to £48.4m compared with a year ago. UK sales were up 24% to £44.9m. | In the three months to the end of March, international sales rose 161% to £48.4m compared with a year ago. UK sales were up 24% to £44.9m. |
Asos has reported strong results in recent years and is bucking the current downbeat retail trend in the UK. | Asos has reported strong results in recent years and is bucking the current downbeat retail trend in the UK. |
The British Retail Consortium said on Tuesday that retail sales in March had seen their worst fall since 1996. | The British Retail Consortium said on Tuesday that retail sales in March had seen their worst fall since 1996. |
'Mind-blowing' growth | 'Mind-blowing' growth |
For the full year, Asos said UK sales were up 24% while international sales rose 144%. | For the full year, Asos said UK sales were up 24% while international sales rose 144%. |
The company said it expected profit for the year ahead to be "towards the top end of expectations". | The company said it expected profit for the year ahead to be "towards the top end of expectations". |
Unlike many retailers who have expressed caution in their forward-looking statements, Asos chief executive Nick Robertson said the group had approached the new financial year with "confidence" and was "excited" about its prospects. | Unlike many retailers who have expressed caution in their forward-looking statements, Asos chief executive Nick Robertson said the group had approached the new financial year with "confidence" and was "excited" about its prospects. |
Shares in Asos rose 14% to close at 1,950p. | |
Nick Bubb, a retail analyst at Arden Partners, was impressed with the results, describing the UK performance as resilient and its international sales growth as "mind-blowing". | Nick Bubb, a retail analyst at Arden Partners, was impressed with the results, describing the UK performance as resilient and its international sales growth as "mind-blowing". |
"We have to take our hats off to Asos and acknowledge that its burgeoning global expansion is likely to continue to attract a big fan club," he said. | "We have to take our hats off to Asos and acknowledge that its burgeoning global expansion is likely to continue to attract a big fan club," he said. |
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