Fashion retailer Asos has reported a 18% growth in UK retail sales in a trading update for the four months to the end of December 2016.
It said investments in pricing and proposition continued to gain traction. Worldwide sales increased by 36%, with international sales up 52% owing to sterling weakness and US import duty benefits.
Chief executive Nick Beighton said: “With sales for the year now expected to be up by circa 25-30%, we are accelerating our infrastructure investment to handle that growth. Asos remains well set to meet its longer-term ambitions as a result of the hard work and commitment of the team.”
Asos said capital expenditure was expected to be in the £150m-£170m range for the current financial year.
| Four months to 31 December | ||||
|---|---|---|---|---|
| 2016 (£m) | 2015(£m) | Reported increase | CCY increase | |
| UK retail sales | 244 | 206.2 | 18% | 18% |
| US retail sales | 82.7 | 49.7 | 66% | 42% |
| EU retail sales | 165.8 | 111 | 49% | 38% |
| ROW retail sales | 113.2 | 77.4 | 46% | 44% |
| International retail sales | 361.7 | 238.1 | 52% | 41% |
| Total retail sales | 605.7 | 444.3 | 36% | 30% |
| Total group revenue | 621.3 | 457.1 | 36% | 30% |
Watch the video below to see a tour of Asos’ HQ
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