TIDMASC
RNS Number : 5111C
ASOS PLC
18 March 2014
18 March 2014
ASOS plc ("the Company")
Global Online Fashion Destination
Trading Statement for the two months ended 28 February 2014
Two months to 28 February Six months to 28 February
GBP'000s 2014 2013 Increase 2014 2013 Increase
---------------------------------- ---------- ------- ---------- --------- -------- ---------
UK retail sales 48,373 39,866 21% 182,040 137,579 32%
---------------------------------- ---------- ------- ---------- --------- -------- ---------
US retail sales 14,496 10,271 41% 46,749 35,551 31%
EU retail sales 40,331 25,677 57% 127,626 77,457 65%
ROW retail sales 33,454 32,593 3% 115,904 101,676 14%
---------------------------------- ---------- ------- ---------- --------- -------- ---------
Total International retail sales 88,281 68,541 29% 290,279 214,684 35%
---------------------------------- ---------- ------- ---------- --------- -------- ---------
Total retail sales 136,654 108,407 26% 472,319 352,263 34%
---------------------------------- ---------- ------- ---------- --------- -------- ---------
Total group revenues* 139,159 110,512 26% 481,726 359,731 34%
---------------------------------- ---------- ------- ---------- --------- -------- ---------
* Includes retail sales, delivery receipts and third party
revenues.
Two months to 28 February 2014 highlights
-- Retail sales +26% year on year (UK +21%, International +29%)
-- International retail sales 65% of total (63% last year)
-- Retail gross margin down c.30bps on prior year
Six months to 28 February 2014 highlights
-- Retail sales +34% year on year (UK +32%, International +35%)
-- International retail sales 61% of total (61% last year)
-- Retail gross margin up c.60bps on prior year
-- 8.2 million active customers* at 28 February 2014 (+36% year on year)
-- Strong balance sheet and cash position
*Defined as having shopped in the last 12 months
Nick Robertson, CEO, commented:
"The Group delivered strong sales and margin growth over the
first six months of the year (+34% and +60bps respectively) and we
are now confident of achieving GBP1bn of sales in FY 2013/14. We
ended the period with 8.2 million active customers, a 36% increase
year on year.
Retail sales for the two months to February were strong in all
territories except Rest of World where we experienced adverse
currency movements, notably in Australia and Russia.
We have accelerated our investment in warehousing (both in the
UK and Germany) and in IT, so that we will invest at least GBP68m
in capital expenditure in the current year (previous guidance
GBP55m.) This investment will increase our sales capacity to
cGBP2.5bn per annum, over GBP1bn higher than previous guidance. Our
investment in warehousing necessitated levels of dual running costs
over the period which will ease from H2 2014/15.
This investment, as well as the investment in our China
start-up, will reduce our EBIT margin for the current financial
year to 31 August 2014 to c.6.5%. This year these costs will be
disproportionately borne in H1, resulting in a likely H1/H2 Profit
before Tax split of approximately 30%/70%.
It has been an exceptionally busy period of activity at ASOS,
with continued growth and accelerated investment, as we continue to
build "The Number 1 Online Fashion Destination for 20 Somethings
Globally."
Analyst/Investor conference call:
ASOS will be hosting a conference call for analysts and
investors at 8:30am (UK Time) today. Please call Jamie Ramsay at
Instinctif Partners for dial-in details on 020 7457 2047 or email
jamie.ramsay@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 / Jamie
Ramsay
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 75,000 branded and own-brand
products through localised mobile and web experiences, delivering
from our UK hub 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 million visits per month (February
2013: 52 million) and as at 28 February 2014 had 8.2 million active
customers(1) (28 February 2013: 6.0 million), of which 3.2 million
were located in the UK and 5.0 million were located in our
international territories (28 February 2013: 2.5 million in the UK
and 3.5 million internationally).
(1) Defined as having shopped in the last 12 months
www.asos.com www.asos.es
www.us.asos.com www.asos.com/ru
www.asos.de www.asos.com/cn
www.asos.fr m.asos.com
www.asos.com/au marketplace.asos.com
www.asos.it fashionfinder.asos.com
Appendix 1
Retail sales by quarter for the year ending 31 August 2014
YTD
GBP'000s Q1(1) YOY% Q2(2) YOY% Q3 YOY% Q4 YOY% 2013/14 YOY%
------------------ ------- ---- ------- ---- ---- ---- -------- ----
UK retail sales 133,667 37% 48,373 21% 182,040 32%
US retail sales 32,253 28% 14,496 41% 46,749 31%
EU retail sales 87,295 69% 40,331 57% 127,626 65%
ROW retail
sales 82,450 19% 33,454 3% 115,904 14%
International
retail sales 201,998 38% 88,281 29% 290,279 35%
------------------ ------- ---- ------- ---- ---- ---- -------- ----
Total retail
sales 335,665 38% 136,654 26% 472,319 34%
------------------ ------- ---- ------- ---- ---- ---- -------- ----
Retail sales by quarter for the year ending 31 August 2013
GBP'000s Q1(1) YOY% Q2(2) 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
GBP'000s Q1(1) YOY% Q2(2) 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
The company news service from the London Stock Exchange
END
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