TODAY'S TOP NEWS STORY: Asos posts another major leap in Christmas sales at home and abroad
Global reach now attracts almost 8m active users
Asos continued to impress Tuesday as the UK-based online fashion retailer posted another leap in pre-Christmas sales, noting it had also made a good start to its new financial year.
Retail sales rose an impressive 38% to £335.7m ($552m) in the four months of fiscal 2013/14 to December 31, although that was short of the 47% lift in Q4. Analysts expected sales growth of 36%.
The retailer said it had 7.9m active customers as of December 31, up 41% year-on-year.
While UK sales jumped 37% to £133.7m, International sales, which now account for 60% of total, rose 38% to £202m with Europe particularly strong, up 69%.
Gross margin rose 90 basis points year-on-year in the period, reflecting tighter stock control.
"These results were driven by significant improvements to our customer proposition, including better delivery options, additional payment methods and the roll out of our premier service in key international markets," said CEO Nick Robertson.
Asos added it continues to trade in line with expectations and has a strong balance sheet and cash position.