13th Jan 2015 07:23
LONDON (Alliance News) - Online fashion retailer ASOS PLC Monday reported a 15% rise in retail sales for the six-week period covering the all-important Christmas trading season, bolstered by double-digit growth in the UK.
However, retail gross margin was down circa 200 basis points on the prior year.
In a statement, AIM-listed ASOS said total retail sales in the six weeks ended January 9 were up 15% on the corresponding period last year, without giving specific figures.
Chief Executive Nick Robertson said that trading in the last six weeks was in line with expectations, and explained the fall in retail gross margin.
"UK sales remained strong at plus 27%. Improved international sales at plus 5% indicates an initial encouraging response to our planned price investments, also reflected in the retail gross margin performance which is in line with expectations for the period," Robertson said in a statement.
"Our roll out of zonal pricing continues to be on track. Our programme of investment in our IT platform and our distribution capability are also progressing well," the CEO added.
In addition, Roberston said that guidance for the outcome for the year in terms of both sales and earnings before interest and tax (EBIT) margin remains unchanged.
By Samuel Agini; [email protected]; @samuelagini
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