REG - ASOS PLC - Trading Statement <Origin Href="QuoteRef">ASOS.L</Origin>
RNS Number : 9094KASOS PLC13 July 201713 July 2017
ASOS plc ("the Company")
Trading Statement for the four months ended 30 June 2017
Four months to 30 June
Ten months to 30 June
m1
2017
20162
Reported Increase
CCY3 Increase
2017
20162
Reported Increase
CCY3 Increase
UK retail sales
234.6
203.1
16%
16%
575.4
492.6
17%
17%
US retail sales
94.4
68.3
38%
26%
218.7
145.1
51%
33%
EU retail sales
196.6
139.5
41%
30%
445.5
307.4
45%
34%
ROW retail sales
134.5
87.4
54%
41%
309.7
197.8
57%
47%
International retail sales
425.5
295.2
44%
32%
973.9
650.3
50%
38%
Total retail sales
660.1
498.3
32%
26%
1,549.3
1,142.9
36%
29%
Total group revenue4
675.8
512.4
32%
26%
1,587.3
1,175.5
35%
29%
1All numbers subject to rounding throughout this document
2Restated to remove the results of the discontinued operation in China
3Constant currency is calculated to take account of hedged rate movements on hedged sales and spot rate movements on unhedged sales
4Includes retail sales, delivery receipts and third party revenues
Highlights include:
International retail sales growth of +44%, UK +16%
Continued strong customer engagement: active customers5 +25%, average basket value +3%, average order frequency6 +6%, conversion +10bps
Retail gross margin flat versus prior year
Total orders shipped 16.9m, +28% year on year
Phase 1 transition to Eurohub 2 warehouse operational and phase 2 underway
Over 300 tech releases in the period
Guidance:
Current financial year reported sales growth anticipated to be at the upper end of the 30-35% range
Full Year PBT anticipated to be in line with market consensus7
Full year capital expenditure anticipated to be in the 150-170m guided range
Medium term reported sales growth guidance remains unchanged at c.20-25% p.a.
Nick Beighton, CEO, commented:
"Strong H1 sales momentum has continued through the third period supported by our ongoing investment in our customer proposition and in price.
This good performance has been underpinned by advances across all areas of our business including retail, technology, warehousing, delivery solutions and customer care. We have made a smooth transition to our new Eurohub 2 facility in Germany and anticipate confirming a new US logistics hub soon.
We remain on track and confident of meeting market expectations and will release our results for the year to 31 August 2017 on 17 October 2017."
5Defined as having shopped in the last 12 months as at 30 June 2017
6Calculated as last 12 months' total orders divided by active customers
7Company compiled PBT consensus for FY 2017 of 79.4m
Investor and Analyst conference call:
ASOS will be hosting a conference call for analysts and investors at 8.30am (UK Time) today. Please call Guy Scarborough at Instinctif Partners for dial-in details on 020 7457 2047 or email guy.scarborough@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
For further information:
ASOS plc
Tel: 020 7756 1000
Nick Beighton, Chief ExecutiveOfficer
Helen Ashton, Chief Financial Officer
Greg Feehely, Director of Investor Relations
Website: www.asosplc.com/investors
Instinctif Partners
Matthew Smallwood / Guy Scarborough
Tel: 020 7457 2020
JPMorgan Cazenove
Michael Wentworth-Stanley / Caroline Thomlinson
Tel: 020 7742 4000
Numis Securities
Alex Ham / Luke Bordewich
Tel:020 7260 1000
Forward looking statements:
This announcement may include statements that are, or may be deemed to be, "forward-looking statements" (including words such as "believe", "expect", "estimate", "intend", "anticipate" and words of similar meaning). By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances, and actual results may, and often do, differ materially from any forward-looking statements. Any forward-looking statements in this announcement reflect management's view with respect to future events as at the date of this announcement. Save as required by applicable law, the Company undertakes no obligation to publicly revise any forward-looking statements in this announcement, whether following any change in its expectations or to reflect events or circumstances after the date of this announcement.
Background note:
ASOS is a global fashion destination for 20-somethings. We sell cutting-edge fashion and offer a wide variety of fashion-related content, making ASOS.com the hub of a thriving fashion community. We sell over 85,000 branded and own-label products through localised mobile and web experiences, delivering from our fulfilment centres in the UK, US and Europe to almost every country in the world.
We tailor the mix of own-label, global and local brands sold through each of our eight local language websites: UK, US, France, Germany, Spain, Italy, Australia and Russia.
ASOS's websites attracted 146 million visits during June 2017 (June 2016: 123 million) and as at 30 June 2017 it had 15.0 million active customers1 (30 June 2016: 12.0 million), of which 5.2 million were located in the UK and 9.8 million were located in our international territories (30 June 2016: 4.6 million in the UK and 7.4 million internationally).
1Defined as having shopped in the last 12 months as at 30 June 2017
Appendix 1 - Retail sales growth by period in sterling
Year ending 31 August 2017
m
P12
YOY%
P22
YOY%
P32
YOY%
P42
YOY%
2016/17 YTD
YOY%
UK retail sales
244.0
18%
96.8
16%
234.6
16%
575.4
17%
US retail sales
82.7
66%
41.6
54%
94.4
38%
218.7
51%
EU retail sales
165.8
49%
83.1
46%
196.6
41%
445.5
45%
ROW retail sales
113.2
46%
62.0
88%
134.5
54%
309.7
57%
International retail sales
361.7
52%
186.7
60%
425.5
44%
973.9
50%
Total retail sales
605.7
36%
283.5
42%
660.1
32%
1,549.3
36%
Year ending 31 August 20161
m
P12
YOY%
P22
YOY%
P32
YOY%
P42
YOY%
2015/16
YOY%
UK retail sales
206.2
25%
83.3
26%
203.1
28%
111.2
32%
603.8
27%
US retail sales
49.7
42%
27.1
38%
68.3
53%
34.1
67%
179.2
50%
EU retail sales
111.0
29%
56.9
14%
139.5
32%
67.5
30%
374.9
28%
ROW retail sales
77.4
3%
33.0
(5%)
87.4
16%
48.0
21%
245.8
9%
International retail sales
238.1
21%
117.0
12%
295.2
31%
149.6
34%
799.9
25%
Total retail sales
444.3
23%
200.3
18%
498.3
30%
260.8
33%
1,403.7
26%
Year ending 31 August 20151
m
P12
YOY%
P22
YOY%
P32
YOY%
P42
YOY%
2014/15
YOY%
UK retail sales
165.5
24%
65.9
36%
158.4
27%
84.1
29%
473.9
27%
US retail sales
34.9
8%
19.6
35%
44.5
43%
20.5
41%
119.5
29%
EU retail sales
86.3
(1%)
49.9
24%
105.8
21%
52.0
26%
294.0
15%
ROW retail sales
75.3
(8%)
34.7
8%
75.1
(1%)
39.7
3%
224.8
(2%)
International retail sales
196.5
(3%)
104.2
20%
225.4
16%
112.2
19%
638.3
10%
Total retail sales
362.0
8%
170.1
26%
383.8
20%
196.3
23%
1,112.2
17%
1Restated to remove the results of the discontinued operation in China
2Periods are as follows:
P1: four months to 31 December
P2: two months to 28/29 February
P3: four months to 30 June
P4: two months to 31 August
Appendix 2 - Retail sales growth by period at constant currency1
Year ending 31 August 2017
m
P13
YOY%
P23
YOY%
P33
YOY%
P43
YOY%
2016/17 YTD
YOY%
UK retail sales
244.0
18%
96.8
16%
234.6
16%
575.4
17%
US retail sales
82.7
42%
41.6
34%
94.4
26%
218.7
33%
EU retail sales
165.8
38%
83.1
36%
196.6
30%
445.5
34%
ROW retail sales
113.2
44%
62.0
70%
134.5
41%
309.7
47%
International retail sales
361.7
41%
186.7
45%
425.5
32%
973.9
38%
Total retail sales
605.7
30%
283.5
33%
660.1
26%
1,549.3
29%
Year ending 31 August 20162
m
P13
YOY%
P23
YOY%
P33
YOY%
P43
YOY%
2015/16
YOY%
UK retail sales
206.2
25%
83.3
26%
203.1
28%
111.2
32%
603.8
27%
US retail sales
49.7
35%
27.1
32%
68.3
45%
34.1
47%
179.2
40%
EU retail sales
111.0
40%
56.9
17%
139.5
22%
67.5
30%
374.9
28%
ROW retail sales
77.4
15%
33.0
-
87.4
17%
48.0
20%
245.8
14%
International retail sales
238.1
29%
117.0
14%
295.2
25%
149.6
29%
799.9
25%
Total retail sales
444.3
27%
200.3
19%
498.3
26%
260.8
30%
1,403.7
26%
Year ending 31 August 20152
m
P13
YOY%
P23
YOY%
P33
YOY%
P43
YOY%
2014/15
YOY%
UK retail sales
165.5
24%
65.9
36%
158.4
27%
84.1
29%
473.9
27%
US retail sales
34.9
9%
19.6
25%
44.5
31%
20.5
31%
119.5
22%
EU retail sales
86.3
6%
49.9
34%
105.8
37%
52.0
41%
294.0
26%
ROW retail sales
75.3
(3%)
34.7
14%
75.1
5%
39.7
14%
224.8
5%
International retail sales
196.5
3%
104.2
25%
225.4
23%
112.2
28%
638.3
17%
Total retail sales
362.0
11%
170.1
29%
383.8
25%
196.3
29%
1,112.2
21%
1From 1 July 2016, constant currency is calculated to take account of hedged rate movements on hedged sales and spot rate movements on unhedged sales
2Restated to remove the results of the discontinued operation in China
3Periods are as follows:
P1: four months to 31 December
P2: two months to 28/29 February
P3: four months to 30 June
P4: two months to 31 August
This information is provided by RNSThe company news service from the London Stock ExchangeENDTSTELLFFDDFXBBV
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