‘Exceptional’ UK growth at fashion retailer ASOS
Posted on January 13, 2021 by Jonathan Symcox
Fashion retailer ASOS has reported a jump in sales for the peak trading period.
The eCommerce giant revealed a 36% increase in UK revenue to almost £554 million for the four months to 31st December 2020, driving total sales and revenue beyond £1.3 billion.
Group sales were up 23%, with the London-headquartered firm acknowledging “stronger than anticipated consumer demand for our products”.
It said its multi-brand model enabled it to capture available demand as consumers increasingly shopped online, with an active customer base increasing by 1.1m to 24.5m.
“We are really pleased with the strong performance we have delivered, which is testament to both the strength of our multi-brand model and the hard work of our people,” said CEO Nick Beighton.
“We have continued to execute well and deliver for our customers, whilst investing into growing our business and driving further efficiency through a strong operational grip.
“Looking forward, given the uncertainty associated with the virus and the impact on customers’ lives, our cautious outlook for the second half of the year remains unchanged.
“However, the strength of our performance gives us confidence in our continued progress towards capturing the global opportunity ahead.”
ASOS, which also saw increased sales momentum in the US, said its North American fulfilment centre will be automated this year while a lease has been signed on a fourth fulfilment centre in Lichfield in the Midlands.