REG - ASOS PLC - Trading Statement

ASOSAnnouncement

09/09/2022 07:00

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RNS Number : 8489Y  ASOS PLC  09 September 2022

9 September 2022

 

ASOS plc ("the Company")

Post Close Trading Update for the Year Ended 31 August 2022

 

 

ASOS today issues an update on trading for the 12 months ended 31 August 2022.

 

Full-year sales, adjusted PBT and net debt are anticipated to be in the range
of market expectations(1). However, after having seen good growth in June and
July, sales in August were weaker than anticipated. This reflected the impact
of accelerating inflationary pressures on consumers and a slow start to
Autumn/Winter shopping.

 

Profit is anticipated to be around the bottom end of company guidance, with
constant currency sales growth of c.2% and net debt c. £150m(2).

 

While ASOS remains cautious about the outlook for consumer spending, it
continues to make strategic progress and manage the business for the current
environment.

 

ASOS will report full-year results on 12 October 2022.

 

 

This announcement includes inside information.

 

The person responsible for arranging the release of this announcement on
behalf of ASOS is Anna Suchopar, General Counsel and Company Secretary.

 

 

 

 

 

 

 

( )

( )

(1) Company-compiled consensus as of 15 July 2022 for 12 months ended 31
August 2022

·      Total Sales Growth in the range of 0.3% to 6.3% [Consensus: 3.2%]

·      Adjusted PBT in the range of £9m to £43m [Consensus: £28m]

·      Net Cash / (Net Debt) in the range of (£235m) to £101m
[Consensus: (£77m)]

(2) Company Guidance issued as at 16 June 2022:

·      Constant Currency sales growth in the range 4% to 7%

·      Adjusted PBT in the range £20m to £60m

·      Net Debt in the range £75m to £125m

 

For further information:

 ASOS                                                                                                                                                      Tel: 020 7756 1000
 plc
 José Antonio Ramos Calamonte, Chief Executive Officer

 Mathew Dunn, Chief Operating Officer & Chief Financial Officer

 Katy Mecklenburgh, Director of Group Finance

 Taryn Rosekilly, Director of Investor Relations

 Website: www.asosplc.com/investors

 Headland Consultancy                                                                                                                                      Tel: 020 3805 4822
 Susanna Voyle / Stephen Malthouse

 JPMorgan Cazenove

                                                                                                                                                           Tel: 020 7742 4000
 Bill Hutchings / Will Vanderspar

 Numis Securities                                                                                                                                          Tel: 020 7260 1000
 Alex Ham / Jonathan Wilcox / Tom Jacob

 Berenberg                                                                                                                                                 Tel: 020 3207 7800

 Michelle Wilson / Jen Clarke

 

Background note

ASOS is a destination for fashion-loving 20-somethings around the world, with
a purpose to give its customers the confidence to be whoever they want to be.
Through its app and mobile/desktop web experience, available in ten languages
and in over 200 markets, ASOS customers can shop a curated edit of over
100,000 products, sourced from nearly 900 global and local third-party brands
alongside a mix of fashion-led own-brand labels - ASOS Design, ASOS Edition,
ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge and
HIIT. ASOS aims to give all of its customers a truly frictionless experience,
with an ever-greater number of different payment methods and hundreds of local
delivery and return options, including Next-Day Delivery and Same-Day
Delivery, dispatched from state-of-the-art fulfilment centres in the UK, US
and Germany.

 

Important information

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.

 

 

 

 

 

 

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