ASOS PLC
16 September 2014
ASOS plc ("the Company")
Global Online Fashion Destination
Trading Statement for the three months ended 31 August 2014
Three months to 31 August | Year to 31 August | |||||||
£'000s | 2014 | 2013 | Increase | CCY^ increase | 2014 | 2013 | Increase | CCY^ increase |
UK retail sales | 98,321 | 74,101 | 33% | 33% | 372,241 | 276,027 | 35% | 35% |
US retail sales | 20,797 | 20,872 | 0% | 10% | 92,311 | 77,678 | 19% | 25% |
EU retail sales | 64,049 | 53,036 | 21% | 29% | 256,385 | 177,708 | 44% | 45% |
ROW retail sales | 56,854 | 59,922 | (5%) | 3% | 234,358 | 222,394 | 5% | 15% |
Total International retail sales | 141,700 | 133,830 | 6% | 14% | 583,054 | 477,780 | 22% | 28% |
Total retail sales | 240,021 | 207,931 | 15% | 21% | 955,295 | 753,807 | 27% | 30% |
Total group revenues* | 245,663 | 212,466 | 16% | 22% | 975,470 | 769,396 | 27% | 30% |
* Includes retail sales, delivery receipts and third party revenues.
^On constant exchange rate basis
Three months to 31 August 2014 highlights
· Retail sales +15% (UK +33%, International +6%)
· International retail sales 59% of total (64% last year)
· Retail gross margin down c.640 bps on prior year
· 8.8 million active customers1 at 31 August 2014 (+25% year on year)
Year to 31 August 2014 highlights
· Retail sales +27% (UK +35%, International +22%)
· International retail sales 61% of total (63% last year)
· Retail gross margin down c.230 bps on prior year
· Strong balance sheet and cash position
Nick Robertson, CEO, commented:
"Our UK performance remained strong over the final quarter, with sales increasing 33%. Our International business grew 6% or 14% in constant currency. However, due to the fire at our Barnsley distribution centre, we lost sales during the quarter of between £25m and £30m with a retail gross margin impact of c.200 basis points. After adjusting for insurance proceeds, we expect profit before tax for the year to be in line with market expectations.
Engagement with our customers remains positive with a 25% growth in active customers and increases in order frequency, conversion rate and average basket value. Sales for the year as a whole increased by 27%.
In the new financial year we'll make significant investments in our international pricing and proposition, as well as in our logistical infrastructure and technology platform. As a result, we expect profit before tax for the year to 31 August 2015 to be at a similar level to 2013/14.
We remain focussed on the long term opportunity for ASOS, with £2.5bn of sales as our next staging post".
Analyst/Investor conference call:
ASOS will be hosting a conference call for analysts and investors at 8:30am (UK Time) today. Please call Antonia Pollock at Instinctif Partners for dial-in details on 0207 457 2857 or emailantonia.pollock@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, Finance Director Greg Feehely, Head of Investor Relations | |
Instinctif Partners | Tel: 020 7457 2020 |
Matthew Smallwood / Justine Warren / Antonia Pollock | |
JPMorgan Cazenove | Tel: 020 7742 4000 |
Luke Bordewich / Gina Gibson | |
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 90,000 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 attract 71.2 million visits per month (August 2013: 68.5 million) and as at 31 August 2014 had 8.8 million active customers1 (31 August 2013: 7.1 million), of which 3.4 million were located in the UK and 5.4 million were located in our international territories (31 August 2013: 2.8 million in the UK and 4.3 million internationally).
1 Defined as having shopped in the last 12 months
Appendix 1
Retail sales by quarter for the year ending 31 August 2014
£'000s | Q11 | YOY% | Q22 | YOY% | Q3 | YOY% | Q4 | YOY% | 2013/14 | YOY% |
UK retail sales | 133,667 | 37% | 48,373 | 21% | 91,880 | 43% | 98,321 | 33% | 372,241 | 35% |
US retail sales | 32,253 | 28% | 14,496 | 41% | 24,765 | 17% | 20,797 | 0% | 92,311 | 19% |
EU retail sales | 87,295 | 69% | 40,331 | 57% | 64,710 | 37% | 64,049 | 21% | 256,385 | 44% |
ROW retail sales | 82,450 | 19% | 33,454 | 3% | 61,600 | 1% | 56,854 | (5%) | 234,358 | 5% |
International retail sales | 201,998 | 38% | 88,281 | 29% | 151,075 | 17% | 141,700 | 6% | 583,054 | 22% |
Total retail sales | 335,665 | 38% | 136,654 | 26% | 242,955 | 25% | 240,021 | 15% | 955,295 | 27% |
Retail sales by quarter for the year ending 31 August 2013
£'000s | Q11 | YOY% | Q22 | YOY% | Q3 | YOY% | Q4 | YOY% | 2012/13 | YOY% |
UK retail sales | 97,713 | 28% | 39,866 | 23% | 64,347 | 39% | 74,101 | 49% | 276,027 | 34% |
US retail sales | 25,280 | 56% | 10,271 | 48% | 21,255 | 59% | 20,872 | 59% | 77,678 | 57% |
EU retail sales | 51,780 | 29% | 25,677 | 53% | 47,215 | 56% | 53,036 | 73% | 177,708 | 51% |
ROW retail sales | 69,083 | 39% | 32,593 | 34% | 60,796 | 38% | 59,922 | 26% | 222,394 | 35% |
International retail sales | 146,143 | 38% | 68,541 | 43% | 129,266 | 48% | 133,830 | 47% | 477,780 | 44% |
Total retail sales | 243,856 | 34% | 108,407 | 35% | 193,613 | 45% | 207,931 | 47% | 753,807 | 40% |
Retail sales by quarter for the year ending 31 August 2012
£'000s | Q11 | YOY% | Q22 | YOY% | Q3 | YOY% | Q4 | YOY% | 2011/12 | YOY% |
UK retail sales | 76,581 | 11% | 32,386 | 4% | 46,437 | 8% | 49,854 | 15% | 205,258 | 10% |
US retail sales | 16,209 | 154% | 6,928 | 66% | 13,351 | 78% | 13,097 | 65% | 49,585 | 91% |
EU retail sales | 40,118 | 37% | 16,728 | 29% | 30,224 | 27% | 30,678 | 22% | 117,748 | 29% |
ROW retail sales | 49,654 | 196% | 24,317 | 106% | 43,912 | 71% | 47,413 | 53% | 165,296 | 94% |
International retail sales | 105,981 | 102% | 47,973 | 66% | 87,487 | 54% | 91,188 | 42% | 332,629 | 64% |
Total retail sales | 182,562 | 50% | 80,359 | 34% | 133,924 | 34% | 141,042 | 31% | 537,887 | 38% |
1 Four months to 31 December
2 Two months to 28 February
This information is provided by RNS
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