ASOS PLC Trading Statement (7421R)

TIDMASC

RNS Number : 7421R

ASOS PLC

16 September 2014

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 
 GBP'000s                              2014     2013  Increase    CCY^        2014     2013  Increase    CCY^ 
                                                                 increase                               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 customers(1) 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 GBP25m and GBP30m 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 GBP2.5bn 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 email [e-mail].

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: [phone] 
 Nick Robertson, Chief Executive 
 Nick Beighton, Finance Director 
  Greg Feehely, Head of Investor Relations 
 
 
 
   Instinctif Partners                            Tel: [phone] 
 Matthew Smallwood / Justine Warren / Antonia 
  Pollock 
 
 
   JPMorgan Cazenove                              Tel: [phone] 
 Luke Bordewich / Gina Gibson 
 
 
   Numis Securities                               Tel: [phone] 
 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 customers(1) (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

 
 www.asos.com      www.asos.es 
 www.us.asos.com   www.asos.com/ru 
 www.asos.de       www.asos.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

 
 
GBP'000s              Q1(1)  YOY%    Q2(2)  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

 
 
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

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