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

AsosAnnouncement

25/01/2018 07:05

RNS Number : 8520C
ASOS PLC
25 January 2018
25 January 2018
ASOS plc ("the Company")
Trading Statement for the four months ended 31 December 2017
Four months to 31 December
m1
2017 
2016 
Reported Increase
CCY2 Increase
UK retail sales
300.9
244.0
23%
23%
US retail sales
102.4
82.7
24%
28%
EU retail sales
235.2
165.8
42%
34%
ROW retail sales
151.9
113.2
34%
32%
International retail sales
489.5
361.7
35%
32%
Total retail sales
790.4
605.7
30%
28%
Total group revenue3
808.4
621.3
30%
28%
1All numbers subject to rounding throughout this document
2Constant currency is calculated to take account of hedged rate movements on hedged sales and spot rate movements on unhedged sales
3Includes retail sales, delivery receipts and third party revenues
Highlights include:
Retail sales grew strongly, +30% on a reported basis and +28% in constant currency driven by our unique and differentiated product and proposition
Accelerated performance in the UK with retail sales growth of +23% in a challenging market
Continued strong customer engagement: active customers4 +19%, average basket value +3%, average order frequency5 +8%, conversion +20bps
Total orders placed 20.2m, +30% year on year
Retail gross margin up 80bps on prior year in line with plan
Guidance:
No change to FY18 financial guidance, however full year capital expenditure is now expected to be around the upper end of the previously indicated range of 200-220m 
4Defined as having shopped in the last twelve monthsas at 31 December 2017
5Calculated as lasttwelve months' total orders divided by active customers
Nick Beighton, CEO, commented:
"I'm pleased to report a strong performance during the period including peak. We achieved an exceptional performance in the UK, whilst momentum in international sales continued. We acquired 2.6 million active customers year on year and saw encouraging movements across all key customer KPIs. 
Velocity in our technology programmes continued, with a record number of releases. Our customer proposition was further enhanced in the U.K. with the launch of Try Before You Buy and ASOS Instant, our same day delivery proposition. 
Following this strong start to the year, we remain confident in our full year guidance and delivery of our planned investments in infrastructure to support our global ambitions."
Investor and Analyst conference call:
ASOS will be hosting a conference call for analysts and investors at 8.00am (UK Time) today. Please call Tom Berger at Instinctif Partners for dial-in details on 02074572834or email tom.berger@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 / Tom Berger
 
JPMorgan Cazenove
Tel: 020 7742 4000
Michael Wentworth-Stanley / Bill Hutchings
Numis Securities
Tel:020 7260 1000
Alex Ham / Luke Bordewich
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 87,000 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 174 million visits during December 2017 (December 2016: 139 million) and as at 31 December 2017 it had 16.0 million active customers1 (31 December 2016: 13.4 million), of which 5.4 million were located in the UK and 10.6 million were located in our international territories (31 December 2016: 4.9 million in the UK and 8.5 million internationally).
1Defined as having shopped in the last twelve months as at 31 December 2017
Appendix 1 - Retail sales growth by period in sterling
Year ending 31 August 2018
m
P11
YOY%
P21
YOY%
P31
YOY%
P41
YOY%
2017/18 YTD
YOY%
UK retail sales
300.9
23%
300.9
23%
 US retail sales
102.4
24%
102.4
24%
 EU retail sales
235.2
42%
235.2
42%
 ROW retail sales
151.9
34%
151.9
34%
International retail sales
489.5
35%
489.5
35%
Total retail sales 
790.4
30%
790.4
30%
Year ended 31 August 2017
m
P11
YOY%
P21
YOY%
P31
YOY%
P41
YOY%
2016/17
YOY%
UK retail sales
244.0
18%
96.8
16%
234.6
16%
122.8
10%
698.2
16%
 US retail sales
82.7
66%
41.6
54%
94.4
38%
42.9
26%
261.6
46%
 EU retail sales
165.8
49%
83.1
46%
196.6
41%
98.6
46%
544.1
45%
 ROW retail sales
113.2
46%
62.0
88%
134.5
54%
62.9
31%
372.6
52%
International retail sales
361.7
52%
186.7
60%
425.5
44%
204.4
37%
1,178.3
47%
Total retail sales 
605.7
36%
283.5
42%
660.1
32%
327.2
25%
1,876.5
34%
Year ended 31 August 20162
m
P11
YOY%
P21
YOY%
P31
YOY%
P41
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%
1Periods 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
2Restated to remove the results of the discontinued operation in China
Appendix 2 - Retail sales growth by period at constant currency1
Year ending 31 August 2018
m
P12
YOY%
P22
YOY%
P32
YOY%
P42
YOY%
2017/18 YTD
YOY%
UK retail sales
300.9
23%
300.9
23%
 US retail sales
102.4
28%
102.4
28%
 EU retail sales
235.2
34%
235.2
34%
 ROW retail sales
151.9
32%
151.9
32%
International retail sales
489.5
32%
489.5
32%
Total retail sales 
790.4
28%
790.4
28%
Year ended 31 August 2017
m
P12
YOY%
P22
YOY%
P32
YOY%
P42
YOY%
2016/17
YOY%
UK retail sales
244.0
18%
96.8
16%
234.6
16%
122.8
10%
698.2
16%
 US retail sales
82.7
42%
41.6
34%
94.4
26%
42.9
21%
261.6
31%
 EU retail sales
165.8
38%
83.1
36%
196.6
30%
98.6
36%
544.1
34%
 ROW retail sales
113.2
44%
62.0
70%
134.5
41%
62.9
23%
372.6
42%
International retail sales
361.7
41%
186.7
45%
425.5
32%
204.4
28%
1,178.3
36%
Total retail sales 
605.7
30%
283.5
33%
660.1
26%
327.2
21%
1,876.5
27%
Year ended 31 August 20163
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
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%
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 
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
3Restated to remove the results of the discontinued operation in China

This information is provided by RNS
The company news service from the London Stock Exchange
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