ASOS sales up 54 per cent, led by overseas demand
The firm, which targets internet-savvy 18-34 year olds looking to emulate the designer looks of celebrities like Kate Moss, Sienna Miller and Alexa Cheung, but at a fraction of the price, said it made 61.7m of sales in the three months ended June 30.
ASOS is to create up to 1,000 jobs in Barnsley when it opens a 40m state-of-the-art distribution centre in the town.
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Hide AdUK sales rose 32 per cent, while international sales were up 111 per cent, both slightly below the figures reported after nine weeks of the quarter. International sales now account for 37 per cent of the total.
ASOS said its strong performance was despite an extra week of sale activity in the comparable period last year, and that its gross profit margin also rose.
"It is too early in the financial year to assume that these levels of sales will continue for the remaining three quarters; however we remain confident that this year will be another year of excellent progress," Chief executive Nick Robertson said.
While many retailers have been hit hard by the economic downturn, ASOS has benefited from a young core customer base with fewer financial commitments and from the migration of spending from the high street to the internet.