Technology, infrastructure and property investment push ASOS sales up 19%

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Sales at ASOS increased 19% year-on-year, and 18% in the UK alone, as the online fashion retailer added 3.1 million new customers in the past year.

For the year-ending 31 August ASOS sales hit £3.26 billion worldwide, and £1.17 billion in the UK. Pre-tax profit rose significantly, up 329% to £142.1 million from £33.1 million this time last year.

It said that it now had some seven million active customers in the UK, who had shown a “pronounced shift” towards “more deliberate purchasing” during lockdown.

The retailer also said that it had delivered consistent sales growth across this year, despite the reduction in demand for going out products that it is predominantly known for.

In a statement to investors ASOS said that “continued investment in technology and infrastructure”, including a new fulfilment centre to support UK growth which it said would deliver capacity “well ahead of planned requirements” for the peak in 2023.

Chief executive Nick Beighton, said: “After a record first half which saw us make progress in addressing the performance issues of the previous financial year, the second half will always be defined by our response to Covid-19.

“As well as protecting staff, suppliers and customers, we’ve driven efficiency and have emerged a stronger, more resilient and agile business whilst delivering strong profit and cash generation.

“Whilst life for our 20-something customers is unlikely to return to normal for quite some time, ASOS will continue to engage, respond and adapt as one of the few truly global leaders in online fashion retail.”


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