TIDMASC
RNS Number : 8520C
ASOS PLC
25 January 2018
25 January 2018
ASOS plc ("the Company")
Trading Statement for the four months ended 31 December 2017
Four months to 31 December
Reported CCY(2)
GBPm(1) 2017 2016 Increase Increase
------------------ ------ ------ ---------- ----------
UK retail sales 300.9 244.0 23% 23%
US retail sales 102.4 82.7 24% 28%
EU retail sales 235.2 165.8 42% 34%
ROW retail
sales 151.9 113.2 34% 32%
International
retail sales 489.5 361.7 35% 32%
------------------ ------ ------ ---------- ----------
Total retail
sales 790.4 605.7 30% 28%
------------------ ------ ------ ---------- ----------
Total group
revenue(3) 808.4 621.3 30% 28%
------------------ ------ ------ ---------- ----------
(1) All numbers subject to rounding throughout this document
(2) Constant currency is calculated to take account of hedged
rate movements on hedged sales and spot rate movements on unhedged
sales
(3) Includes retail sales, delivery receipts and third party
revenues
Highlights include:
-- Retail sales grew strongly, +30% on a reported basis and +28% in constant currency driven by our unique and
differentiated product and proposition
-- Accelerated performance in the UK with retail sales growth of +23% in a challenging market
-- Continued strong customer engagement: active customers4 +19%, average basket value +3%, average order frequency5
+8%, conversion +20bps
-- Total orders placed 20.2m, +30% year on year
-- Retail gross margin up 80bps on prior year in line with plan
Guidance:
-- No change to FY18 financial guidance, however full year capital expenditure is now expected to be around the
upper end of the previously indicated range of GBP200-220m
(4) Defined as having shopped in the last twelve months as at 31
December 2017
(5) Calculated as last twelve months' total orders divided by
active customers
Nick Beighton, CEO, commented:
"I'm pleased to report a strong performance during the period
including peak. We achieved an exceptional performance in the UK,
whilst momentum in international sales continued. We acquired 2.6
million active customers year on year and saw encouraging movements
across all key customer KPIs.
Velocity in our technology programmes continued, with a record
number of releases. Our customer proposition was further enhanced
in the U.K. with the launch of Try Before You Buy and ASOS Instant,
our same day delivery proposition.
Following this strong start to the year, we remain confident in
our full year guidance and delivery of our planned investments in
infrastructure to support our global ambitions."
Investor and Analyst conference call:
ASOS will be hosting a conference call for analysts and
investors at 8.00am (UK Time) today. Please call Tom Berger at
Instinctif Partners for dial-in details on 020 7457 2834 or email
tom.berger@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
For further information:
ASOS plc Tel: 020 7756
1000
Nick Beighton, Chief Executive
Officer
Helen Ashton, Chief Financial
Officer
Greg Feehely, Director of Investor
Relations
Website: www.asosplc.com/investors
Instinctif Partners Tel: 020 7457
2020
Matthew Smallwood / Justine Warren
/ Tom Berger
JPMorgan Cazenove Tel: 020 7742
4000
Michael Wentworth-Stanley / Bill
Hutchings
Numis Securities Tel: 020 7260
1000
Alex Ham / Luke Bordewich
Forward looking statements:
This announcement may include statements that are, or may be
deemed to be, "forward-looking statements" (including words such as
"believe", "expect", "estimate", "intend", "anticipate" and words
of similar meaning). By their nature, forward-looking statements
involve risk and uncertainty since they relate to future events and
circumstances, and actual results may, and often do, differ
materially from any forward-looking statements. Any forward-looking
statements in this announcement reflect management's view with
respect to future events as at the date of this announcement. Save
as required by applicable law, the Company undertakes no obligation
to publicly revise any forward-looking statements in this
announcement, whether following any change in its expectations or
to reflect events or circumstances after the date of this
announcement.
Background note:
ASOS is a global fashion destination for 20-somethings. We sell
cutting-edge fashion and offer a wide variety of fashion-related
content, making ASOS.com the hub of a thriving fashion community.
We sell over 87,000 branded and own-label products through
localised mobile and web experiences, delivering from our
fulfilment centres in the UK, US and Europe to almost every country
in the world.
We tailor the mix of own-label, global and local brands sold
through each of our eight local language websites: UK, US, France,
Germany, Spain, Italy, Australia and Russia.
ASOS's websites attracted 174 million visits during December
2017 (December 2016: 139 million) and as at 31 December 2017 it had
16.0 million active customers(1) (31 December 2016: 13.4 million),
of which 5.4 million were located in the UK and 10.6 million were
located in our international territories (31 December 2016: 4.9
million in the UK and 8.5 million internationally).
(1) Defined as having shopped in the last twelve months as at 31
December 2017
Appendix 1 - Retail sales growth by period in sterling
Year ending 31 August 2018
2017/18
GBPm P1(1) YOY% P2(1) YOY% P3(1) YOY% P4(1) YOY% YTD YOY%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
UK retail
sales 300.9 23% 300.9 23%
US retail
sales 102.4 24% 102.4 24%
EU retail
sales 235.2 42% 235.2 42%
ROW retail
sales 151.9 34% 151.9 34%
International
retail sales 489.5 35% 489.5 35%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
Total retail
sales 790.4 30% 790.4 30%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
Year ended 31 August 2017
GBPm P1(1) YOY% P2(1) YOY% P3(1) YOY% P4(1) YOY% 2016/17 YOY%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
UK retail
sales 244.0 18% 96.8 16% 234.6 16% 122.8 10% 698.2 16%
US retail
sales 82.7 66% 41.6 54% 94.4 38% 42.9 26% 261.6 46%
EU retail
sales 165.8 49% 83.1 46% 196.6 41% 98.6 46% 544.1 45%
ROW retail
sales 113.2 46% 62.0 88% 134.5 54% 62.9 31% 372.6 52%
International
retail sales 361.7 52% 186.7 60% 425.5 44% 204.4 37% 1,178.3 47%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
Total retail
sales 605.7 36% 283.5 42% 660.1 32% 327.2 25% 1,876.5 34%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
Year ended 31 August 2016(2)
GBPm P1(1) YOY% P2(1) YOY% P3(1) YOY% P4(1) YOY% 2015/16 YOY%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- ------- ----
UK retail
sales 206.2 25% 83.3 26% 203.1 28% 111.2 32% 603.8 27%
US retail
sales 49.7 42% 27.1 38% 68.3 53% 34.1 67% 179.2 50%
EU retail
sales 111.0 29% 56.9 14% 139.5 32% 67.5 30% 374.9 28%
ROW retail
sales 77.4 3% 33.0 (5%) 87.4 16% 48.0 21% 245.8 9%
International
retail sales 238.1 21% 117.0 12% 295.2 31% 149.6 34% 799.9 25%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- ------- ----
Total retail
sales 444.3 23% 200.3 18% 498.3 30% 260.8 33% 1,403.7 26%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- ------- ----
(1) Periods are as follows:
P1: four months to 31 December
P2: two months to 28/29 February
P3: four months to 30 June
P4: two months to 31 August
(2) Restated to remove the results of the discontinued operation
in China
Appendix 2 - Retail sales growth by period at constant
currency(1)
Year ending 31 August 2018
2017/18
GBPm P1(2) YOY% P2(2) YOY% P3(2) YOY% P4(2) YOY% YTD YOY%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
UK retail
sales 300.9 23% 300.9 23%
US retail
sales 102.4 28% 102.4 28%
EU retail
sales 235.2 34% 235.2 34%
ROW retail
sales 151.9 32% 151.9 32%
International
retail sales 489.5 32% 489.5 32%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
Total retail
sales 790.4 28% 790.4 28%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
Year ended 31 August 2017
GBPm P1(2) YOY% P2(2) YOY% P3(2) YOY% P4(2) YOY% 2016/17 YOY%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
UK retail
sales 244.0 18% 96.8 16% 234.6 16% 122.8 10% 698.2 16%
US retail
sales 82.7 42% 41.6 34% 94.4 26% 42.9 21% 261.6 31%
EU retail
sales 165.8 38% 83.1 36% 196.6 30% 98.6 36% 544.1 34%
ROW retail
sales 113.2 44% 62.0 70% 134.5 41% 62.9 23% 372.6 42%
International
retail sales 361.7 41% 186.7 45% 425.5 32% 204.4 28% 1,178.3 36%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
Total retail
sales 605.7 30% 283.5 33% 660.1 26% 327.2 21% 1,876.5 27%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- -------- ----
Year ended 31 August 2016(3)
GBPm P1(2) YOY% P2(2) YOY% P3(2) YOY% P4(2) YOY% 2015/16 YOY%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- --------- ----
UK retail
sales 206.2 25% 83.3 26% 203.1 28% 111.2 32% 603.8 27%
US retail
sales 49.7 35% 27.1 32% 68.3 45% 34.1 47% 179.2 40%
EU retail
sales 111.0 40% 56.9 17% 139.5 22% 67.5 30% 374.9 28%
ROW retail
sales 77.4 15% 33.0 - 87.4 17% 48.0 20% 245.8 14%
International
retail sales 238.1 29% 117.0 14% 295.2 25% 149.6 29% 799.9 25%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- --------- ----
Total retail
sales 444.3 27% 200.3 19% 498.3 26% 260.8 30% 1,403.7 26%
-------------- ----- ---- ----- ---- ----- ---- ----- ---- --------- ----
(1) From 1 July 2016, constant currency is calculated to take
account of hedged rate movements on hedged sales and spot rate
movements on unhedged sales
(2) Periods are as follows:
P1: four months to 31 December
P2: two months to 28/29 February
P3: four months to 30 June
P4: two months to 31 August
(3) Restated to remove the results of the discontinued operation
in China
This information is provided by RNS
The company news service from the London Stock Exchange
END
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