REG - ASOS PLC - Trading Statement <Origin Href="QuoteRef">ASOS.L</Origin>

AsosAnnouncement

12/07/2016 07:05

RNS Number : 8697D
ASOS PLC
12 July 2016
12 July 2016
ASOS plc
Global Online Fashion Destination
Trading Statement for the four months ended 30 June 2016
Four months to 30 June
Ten months to 30 June
m1
2016
2015
Increase
CCY2 increase
2016
2015
Increase
CCY2 increase
UK retail sales
203.1
158.4
28%
28%
492.6
389.8
26%
26%
US retail sales
68.3
44.5
53%
45%
145.1
99.0
47%
39%
EU retail sales
139.5
105.8
32%
22%
307.4
242.1
27%
27%
ROW retail sales
   89.6
   77.3
  16%
16%
204.0
191.6
6%
13%
International retail sales
297.4
227.6
31%
25%
656.5
532.7
23%
24%
Total retail sales
500.5
386.0
30%
26%
1,149.1
922.5
25%
25%
Total group revenue3
514.6
396.7
30%
26%
1,181.9
947.1
25%
25%
1All numbers subject to rounding
2On constant exchange rate basis
3Includes retail sales, delivery receipts and third party revenues
Four months to 30 June 2016 highlights 
 Retail sales up 30% (CCY: +26%)
 International retail sales 59% of total, in line with last year
 Retail gross margin down c.180bps on prior year due to sale phasing and planned price investment
 12 million active customers4 at 30 June 2016 (+24% year on year)
 Strong balance sheet position 
 ASOS.cn ceased trading on 5 May 2016; operating losses and closure costs in line with guidance
4Defined as having shopped in the last twelve months
Nick Beighton, CEO, commented:
"I am pleased to report strong retail sales growth of 30% (+26% on constant currency basis) over the four months to 30 June 2016, underpinned by our continued price and proposition investments. UK growth remains strong at +28% and we have seen further acceleration across the US, EU and ROW segments; overall International retail sales increased by 31% (25% on constant currency basis).
As anticipated, our retail gross margin for the period is down c.180bps, approximately 40% of which (c.70bps) is due to moving our main sale forward one week into this financial period, with the balance as a result of continued price investment. 
We now anticipate full year sales growth at the upper end of the 20-25% range. Our retail gross margin guidance of up to 50bps of investment remains unchanged and we remain confident in delivering current market PBT expectations for the year.
Given the increased momentum within the business combined with our strong financial position, we will maintain our successful programme of reinvestment to take advantage of the opportunities currently available to us. 
We will release our results for the year to 31 August 2016 on 18 October."
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
Tel: 020 7457 2020
Matthew Smallwood / Justine Warren / Guy Scarborough
 
JPMorgan Cazenove
Tel: 020 7742 4000
Michael Wentworth-Stanley / Caroline Thomlinson
Numis Securities
Tel:020 7260 1000
Alex Ham / Luke Bordewich
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 85,000branded and own-brand 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 123 million visits during June 2016 (June 2015: 98 million) and as at 30 June 2016 had 12.0 million active customers1 (30 June 2015: 9.7 million), of which 4.6 million were located in the UK and 7.4 million were located in our international territories (30 June 2015: 3.8 million in the UK and 5.9 million internationally).
1Defined as having shopped in the last twelve months
www.asos.com 
www.us.asos.com  
www.asos.de
www.asos.fr 
www.asos.com/au  
www.asos.it
www.asos.es
www.asos.com/ru
m.asos.com
marketplace.asos.com
likes.asos.com
Appendix 1 - Retail sales growth by period in sterling 
Year ending 31 August 2016
m1
P12
YOY%
P22
YOY%
P32
YOY%
YTD 2015/16 
YOY%
UK retail sales
206.2
25%
83.3
26%
203.1
28%
492.6
26%
 US retail sales
49.7
42%
27.1
38%
68.3
53%
145.1
47%
 EU retail sales
111.0
29%
56.9
14%
139.5
32%
307.4
27%
 ROW retail sales
80.0
2%
34.4
(4%)
89.6
16%
204.0
6% 
International retail sales
240.7
20%
118.4
12%
297.4
31%
656.5
23%
Total retail sales 
446.9 
22%
201.7
18%
500.5
30%
1,149.1
25%
Year ending 31 August 2015
m1
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
78.5
(5%)
35.8
7%
77.3
(2%)
40.9
3%
232.5
(1%)
International retail sales
 199.7 
(1%)
 105.3 
19%
227.6
16%
113.4
18%
646.0
11%
Total retail sales 
365.2 
9%
171.2 
25%
386.0 
20%
197.5 
23%
 1,119.9 
17%
Year ending 31 August 2014
m1
P12
YOY%
P22
YOY%
P32
YOY%
P42
YOY%
2013/14 
YOY%
UK retail sales
133.7
37%
48.4
21%
125.1
44%
65.0
27%
372.2
35%
 US retail sales
32.3
28%
14.5
41%
31.0
13%
14.5
-
92.3
19%
 EU retail sales
87.3
69%
40.3
57%
87.4
36%
41.4
16%
256.4
44%
 ROW retail sales
82.4
19%
33.5
3%
78.6
(1%)
39.9
(4%)
234.4
5%
International retail sales
 202.0 
38%
88.3 
29%
197.0
15%
95.8
4%
583.1
22%
Total retail sales 
335.7 
38%
136.7 
26%
322.1 
25%
160.8 
12%
 955.3 
27%
1 All numbers subject to rounding
2 Periods 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 currency 
Year ending 31 August 2016
m1
P12
YOY%
P22
YOY%
P32
YOY%
YTD 2015/16 
YOY%
UK retail sales
206.2
25%
83.3
26%
203.1
28%
492.6
26%
 US retail sales
49.7
35%
27.1
32%
68.3
45%
145.1
39%
 EU retail sales
111.0
40%
56.9
17%
139.5
22%
307.4
27%
 ROW retail sales
80.0
13%
34.4
1%
89.6
16%
204.0
13%
International retail sales
240.7
28%
118.4
14%
297.4
25%
656.5
24%
Total retail sales 
446.9
27%
201.7
19%
500.5
26%
1,149.1
25%
Year ending 31 August 2015
m1
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
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
78.5
1%
35.8
13%
77.3
4%
40.9
13%
232.5
6%
International retail sales
199.7
4%
105.3
25%
227.6
23%
113.4
28%
646.0
17%
Total retail sales 
365.2
12%
171.2
29%
386.0
24%
197.5
28%
1,119.9
21%
Year ending 31 August 2014
m1
P12
YOY%
P22
YOY%
P32
YOY%
P42
YOY%
2013/14 
YOY%
UK retail sales
133.7
37%
48.4
21%
125.1
44%
65.0
27%
372.2
35%
 US retail sales
32.3
28%
14.5
45%
31.0
24%
14.5
10%
92.3
25%
 EU retail sales
87.3
60%
40.3
55%
87.4
41%
41.4
24%
256.4
45%
 ROW retail sales
82.4
27%
33.5
15%
78.6
12%
39.9
4%
234.4
15%
International retail sales
202.0
39%
88.3
34%
197.0
25%
95.8
13%
583.1
28%
Total retail sales 
335.7
38%
136.7
30%
322.1
31%
160.8
18%
955.3
30%
1 All numbers subject to rounding
2 Periods 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 RNS
The company news service from the London Stock Exchange
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