Record Black Friday trading boosts Asos

Asos said UK retail sales hit almost 409m
Asos said UK retail sales hit almost 409m
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Revenues at online fashion retailer Asos broke through £1bn in the last four months of the decade, helped by a record Black Friday.

​Retail sales hit £1.07​bn in the period ​which ended on New Year's Eve.

Total group revenue, which includes ​sales from third parties, rose to £1.11​bn.

Both measures were 20​ per cent​ up on the ​previous ​year.

​The ​firm, which has its main warehouse in Barnsley​,​ said it had managed to "rebuild customer momentum", especially du​ring​ its best Black Friday on record.

Chief executive Nick Beighton said: "Asos has delivered an encouraging start to the year. Strong customer acquisition activity, supported by robust operational performance, has driven good momentum in all our markets."

Asos kept its outlook for the full year unchanged, and said it w​ill​ focus on retain​ing​ new customers who have started using its website.

The UK, while still the most important single market for the company, lost some of its revenue share.

UK retail sales hit almost £409​m, 18​ per cent​ up on the year before, but international retail sales jumped by 22​ per cent​, including a 23​ per cent​ increase in the US.

​The UK's share of retail sales ​wa​s 38​ per cent​, down from nearly 39​ per cent​ a year earlier.

"As we said in October, the focus for this year is to further enhance our capabilities and leverage the investments we have made," ​said ​Mr Beighton.

The company shipped 27.7 million orders in the four months, a 20​ per cent​ rise on the same period in 2018. Meanwhile, 23​ per cent​ more visits to its website were clocked up.

EU retail sales rose 21​ per cent​ to £332.5​m.

Mr Beighton added: "We remain confident in our ability to capture the substantial opportunity ahead of us."