• Home
  • News
  • Business
  • Asos Q3 sales increase 21 percent

Asos Q3 sales increase 21 percent

By Prachi Singh

Jul. 15, 2021

Business

Image: Asos, Facebook

For the four months to June 30, 2021, Asos has reported total group revenue of 1.29 billion pounds, up 21 percent. Sales in its home market of the UK increased 60 percent to 526.4 million pounds.

The company said trading in the last three weeks of the period was more muted, as continued Covid uncertainty and inclement weather, particularly in the UK, impacted market demand.

Asos said it anticipates volatility to continue in the near term, resulting in the underlying fourth-quarter growth rate being broadly in line with the prior year comparable period.

Asos sales continue to improve

Commenting on the trading update in a statement, CEO Nick Beighton said: “Asos has delivered another strong performance against a backdrop of continued social restrictions and global supply chain pressures.”

The company’s active customer base increased by 1.2 million to 26.1 million since HY21. The company added that gross margin of negative -150bps reflected FX headwinds, elevated freight costs due to global supply chain disruption and continued ‘lockdown’ category product mix.

Beighton continued: “Although mindful of the continued impacts of the pandemic on our customers in the short term, we believe that the structure of the global e-commerce fashion market has changed forever, which will drive an increase in online fashion sales over the long term.

“We’re excited about the size of the prize ahead of us and the opportunity of delivering on our ambition of being the number one destination for fashion-loving 20-somethings.”